RBC Capital Maintains Outperform on Cloudflare, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Matthew Hedberg maintains an 'Outperform' rating on Cloudflare (NYSE:NET) but has lowered the price target from $70 to $65.
November 03, 2023 | 6:45 pm
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Cloudflare's price target has been lowered from $70 to $65 by RBC Capital, though the 'Outperform' rating is maintained.
The lowering of the price target by RBC Capital might create a short-term negative sentiment among investors. However, the maintained 'Outperform' rating indicates that the analyst still sees potential in the company's stock, which could balance out the initial negative impact.
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IMPORTANCE 70
RELEVANCE 100