Cloudflare Inc. (NET) PT Raised at Truist as 'Large Customers Drive Acceleration in Growth'

Truist Securities analyst Joel Fishbein Jr. raised the price target on Cloudflare Inc. (NYSE: NET) to $275.00 (from $230.00) while maintaining a Buy rating.

The analyst commented: "Large Customers Driving Acceleration in Growth; Cloudflare reported strong 3Q25 results driven by continued momentum in its largest size customer cohort ($1M-$5M), strong GTM execution, and the success of SASE, Zero-Trust, and AI inference products. Management underscored optimism in its Q4 pipeline and confidence in its sales motion, which is leading to larger deal sizes. We continue to see upside to Cloudflare's FY25 estimates that are underpinned by deepening product adoption, reflecting Cloudflare’s unique positioning at the intersection of AI, security, and the emerging agentic web. We adjust our estimates, reiterate our Buy rating, and raise our PT to $275 from $230."

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