Cloudflare shares are trading higher after Baird maintained an Outperform rating on the stock and raised its price target from $59 to $64.
Portfolio Pulse from Benzinga Newsdesk
Cloudflare's stock is trading higher following Baird's decision to maintain an Outperform rating on the stock and increase its price target from $59 to $64.
June 28, 2023 | 3:24 pm
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POSITIVE IMPACT
Baird's maintained Outperform rating and increased price target for Cloudflare is likely to boost investor confidence and could lead to a short-term increase in the stock's price.
Analyst ratings and price targets can significantly influence investor sentiment and stock prices. Baird's decision to maintain an Outperform rating and raise its price target for Cloudflare indicates a positive outlook for the company, which could lead to increased demand for the stock and a short-term increase in its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100