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Nasdaq jumps 1.6% to record highs Friday as semiconductor rally and stronger-than-expected April payrolls overshadow ongoing Strait of Hormuz tensions.
Piper Sandler analyst James Fish reiterates Cloudflare (NYSE:NET) with a Overweight and raises the price target from $222 to $250.
(Editor’s note: The future prices of benchmark tracking ETFs, and the headline, the lede and the economic were updated in the story.)
U.S. stock futures up, Dow futures gain approx. 100 pts. Forward Air Corp (FWRD) shares down 42.8% in pre-market trading. Other stocks also down.
BTIG analyst Gray Powell reiterates Cloudflare (NYSE:NET) with a Buy and maintains $243 price target.
Akamai Technologies Inc (NASDAQ: AKAM) rose in pre-market trading after reporting strong Q1 results and raising FY26 sales guidance.
Cloudflare cuts 1,100 jobs despite a Q1 revenue beat, pivoting to an 'agentic AI-first' model to capture massive new AI tailwinds.