Cloudflare price target raised to $65 from $49 at Mizuho

Mizuho raised the firm’s price target on Cloudflare to $65 from $49 and keeps a Neutral rating on the shares. While software companies remain challenged by macroeconomic pressures and uncertainty, investor sentiment has decidedly improved in recent months, with generative artificial intelligence excitement “providing a significant lift,” the analyst tells investors in a research note. The firm says its Q2 checks “had puts and takes,” but overall they were reflective of even more stability than picked up in the prior quarter. Given that along with higher comp multiples, it raised price targets on several companies.