BTIG Research raised its Cloudflare (NYSE: NET) price target to $314.00. The previous target was $269.00. The firm maintained its buy rating on the stock. This new target suggests a 13.75% upside from the previous closing price.
Scotiabank, Barclays, Truist, and UBS also recently increased their ratings or price targets. Analysts cite artificial intelligence, edge computing, and zero-trust security as primary growth drivers.
In separate news, Patreon announced it is using Cloudflare technology to block AI training crawlers from its site.