Stifel raised the firm’s price target on Cloudflare (NET) to $95 from $90 and keeps a Hold rating on the shares following a “solid” Q3 print, although Q4 revenue guidance “underwhelmed.” Despite the guidance and Cloudflare having noted of some larger deals that slipped in the U.S. given go-to-market changes, the firm says it came away “incrementally more confident in Cloudflare’s opportunity across various focus areas.”
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