Cloudflare Gets Overweight Upgrades; Mizuho Lowers PT to $235 After 20.6% Slide
Analysts at Wells Fargo and Piper Sandler raised ratings to Overweight, while Mizuho maintained Outperform but cut its price target to $235, after a 20.58% stock slump for Cloudflare. Partnership with Wiz on AI security launched as shares climbed 5.85% to $189.10, valuing the company at $66.56 billion.
1. Analyst Ratings Upgrades
Wells Fargo and Piper Sandler raised their ratings on Cloudflare to Overweight, while Mizuho upheld an Outperform rating but reduced its price target to $235, citing broader software sector pressures. These moves signal heightened analyst confidence in the company’s growth trajectory despite recent sector volatility.
2. Stock Performance Trends
Shares of Cloudflare fell 20.58% in the week of April 6th as a broader software downturn and escalating cybersecurity competition weighed on sentiment, before rebounding 5.85% to close at $189.10 on April 15th. The rally brought its market capitalization to $66.56 billion, underscoring investor responsiveness to upgrades.
3. AI Security Partnership
Cloudflare announced a strategic collaboration with Wiz to strengthen security for AI-powered applications, targeting blind spots in unmonitored AI features like chatbots. The partnership aims to provide unified protection for application workloads, addressing emerging cybersecurity challenges in AI environments.