Piper Sandler upgraded Cloudflare (NET) to Overweight from Neutral. The investment firm established a new price target of $222 for the stock.
Analysts cited Cloudflare’s strategic positioning to benefit from significant AI tailwinds. The firm highlighted the company’s infrastructure advantages across multiple growth sectors. Piper Sandler noted that a recent stock pullback provides an attractive entry point for investors.
Cloudflare shares climbed approximately 3% in pre-market trading following the announcement. The upgrade reflects confidence in the company’s execution and long-term growth trajectory. Cloudflare maintains a dominant position in Edge Distribution Platforms as AI adoption increases.