Cloudflare price target raised to $65 from $55 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver raised the firm’s price target on Cloudflare to $65 from $55 and keeps a Neutral rating on the shares. Cloudflare delivered an in-line quarter to end the year, meeting consensus expectations on revenue and EPS, and the firm believes management’s decision to focus on generating positive operating leverage during a challenging macro operating environment is prudent, the analyst tells investors in a research note.