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Cloudflare (NET) concluded the recent trading session at $82.36, signifying a -1.26% move from its prior day's close.
NET expands its web solutions portfolio with the launch of Speed Brain, a product that is capable of minimizing the web page load time by 45%.
Cloudflare introduced two new AI-centric features. AI Audit allows website owners to understand and block bots scraping content for AI training, while an upcoming feature lets website owners charge for access.
NET is renewing its growth prospects through its expansion in the AI space with the recent launch of the AI Audit toolset.
Cloudflare (NET) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Cloudflare CEO Matthew Prince says the company did not facilitate X going back online in Brazil after a ban from the country's authorities. Plus, Cloudflare announces a first-of-its kind way to help websites analyze and control how their content is used by AI companies, as well as a marketplace for pricing content mined by those AI sites.
Cloudflare (NET) closed the most recent trading day at $82.45, moving -0.46% from the previous trading session.
In the most recent trading session, Cloudflare (NET) closed at $78.59, indicating a -0.34% shift from the previous trading day.
Zacks.com users have recently been watching Cloudflare (NET) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Cloudflare stock has performed well since my previous upgrade, outperforming the S&P 500 easily. Its global networking platform is fundamental to its edge computing growth thesis. Cloudflare's CapEx investments helped build a robust competitive advantage that's challenging to replicate.
I had upgraded Cloudflare stock to a “buy” in my previous rating in May as the selloff presented an attractive entry point given the company's strong execution in the enterprise market. Cloudflare reported its Q2 FY24 earnings where revenue and earnings grew 30% and 180% YoY respectively as $100K+ customers grew 30% and sales productivity expanded in double digits. While there are risks associated with declining retention rates, along with tougher comps, the management raised its guidance for FY24 with an expected non-GAAP operating margin of 12%.