Cloudflare Stock Gets Price Target Hike At Wells Fargo: Retail Remains Bearish

Cloudflare Inc. (NET) stock received a price target bump from analysts at Wells Fargo over the company’s fourth-quarter performance.

According to a report by TheFly, Wells Fargo analysts raised Cloudflare stock’s price target to $150 from $135 while maintaining an ‘Overweight’ rating on the shares.

Cloudflare’s share price fell over 2% in morning trade on Monday, reflecting a wider market decline–the Nasdaq 100 futures down by over 3.6%. Despite Monday’s fall, Cloudflare stock is hovering near its 52-week high of $125.71.

Wells Fargo analysts rated Cloudflare as one of their top picks for 2025 and noted that their channel checks for the first quarter of the fiscal year 2025 were strong.

Cloudflare is scheduled to announce its fourth-quarter earnings on Feb. 13. According to Wells Fargo, if the company can exit Q4 with a 26% year-over-year growth rate, the brokerage expects the firm to maintain its initial guidance for the fiscal year 2025 at 25% year-on-year, in line with Wall Street estimates.

Retail sentiment on Stocktwits continued to remain in the ‘bearish’ (39/100) territory.

NET sentiment and message volume January 27, 2025, as of 10 am ET | Source: Stocktwits

Meanwhile, one user noted that the stock is facing resistance at the $130 level.

Another user expressed a bullish take on the stock after it gained over 11% in the past month.

Cloudflare stock has gained over 57% over the past six months, while its one-year performance has been relatively less stellar, with gains of 44%.

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