The reduction in Cloudflare's price target by Keybanc, despite maintaining an Overweight rating, could lead to a negative short-term sentiment among investors. This adjustment reflects a reassessment of Cloudflare's valuation, potentially due to market conditions or company-specific factors not detailed in the article. The significant drop in the price target might cause concern among investors about the company's future growth prospects or valuation, leading to a potential decrease in stock price in the short term.