RBC Capital Maintains Outperform on Cloudflare, Lowers Price Target to $90
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Matthew Hedberg maintains an Outperform rating on Cloudflare (NYSE:NET) but lowers the price target from $108 to $90.
May 31, 2024 | 5:48 pm
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RBC Capital analyst Matthew Hedberg maintains an Outperform rating on Cloudflare but lowers the price target from $108 to $90.
The Outperform rating suggests continued confidence in Cloudflare's performance, but the lowered price target indicates a more cautious outlook on its short-term valuation. This mixed signal is likely to result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100