Piper Sandler Reiterates Neutral on Cloudflare, Lowers Price Target to $81
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst James Fish has reiterated a Neutral rating on Cloudflare (NYSE:NET) and lowered the price target from $110 to $81.
May 03, 2024 | 1:29 pm
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NEGATIVE IMPACT
Piper Sandler has reiterated a Neutral rating on Cloudflare and reduced the price target from $110 to $81.
The reduction in price target by Piper Sandler from $110 to $81 represents a significant downward revision, which could negatively impact investor sentiment and Cloudflare's stock price in the short term. The Neutral rating suggests that the analyst sees limited upside or downside potential from the current levels, but the lowered price target indicates a bearish outlook on the stock's valuation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100