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Investing.com - Truist Securities raised its price target on Cloudflare Inc. (NYSE:NET) to $275.00 from $230.00 on Friday, while maintaining a Buy rating on the stock. This new target comes as Cloudflare shares have surged 153.68% over the past year, currently trading at $247, well above its previous 52-week high of $231.13.
The price target increase follows Cloudflare’s strong third-quarter 2025 results, which showed acceleration in growth driven by momentum in its largest customer cohort ($1M-$5M), strong go-to-market execution, and success with SASE, Zero-Trust, and AI inference products. The company has maintained impressive 27.32% revenue growth with gross profit margins of 76.14%, though InvestingPro data indicates the stock appears overvalued based on its Fair Value assessment.
Truist Securities noted management’s optimism regarding the fourth-quarter pipeline and confidence in the company’s sales approach, which is resulting in larger deal sizes for Cloudflare.
The research firm continues to see upside potential to Cloudflare’s fiscal year 2025 estimates, supported by deepening product adoption that reflects the company’s unique positioning at the intersection of AI, security, and the emerging agentic web.
Cloudflare’s business growth is being primarily fueled by its largest customers, indicating strong enterprise adoption of the company’s expanding product portfolio.
In other recent news, Cloudflare Inc . has reported significant growth in its third-quarter results, with a 31% increase in revenue and a 43% rise in remaining performance obligations (RPO). This strong performance has led the company to raise its guidance for the upcoming quarters. Analysts have responded positively, with several firms adjusting their stock price targets for Cloudflare. TD Cowen increased its target to $265, maintaining a Buy rating, while Piper Sandler raised its target to $249, noting impressive execution and customer growth. UBS also adjusted its target to $245, describing the quarter as "standout" due to revenue growth surpassing expectations. Citizens raised its target to $270, highlighting the effective leadership of CEO Matthew Prince and go-to-market leader Mark Anderson. Mizuho set a new target of $280, acknowledging the company’s revenue growth exceeding Wall Street expectations. These developments reflect a strong analyst confidence in Cloudflare’s continued performance.
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