While NET's recent price surge and strong market position are encouraging, lofty valuation warrants caution.
Cloudflare (NET 1.79%) is a cloud services provider that is growing at a healthy rate.
The latest trading day saw Cloudflare (NET) settling at $115.70, representing a +1.79% change from its previous close.
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The company is improving performance on the top and bottom lines.
Cloudflare (NET) closed at $113.99 in the latest trading session, marking a -0.64% move from the prior day.
Cloudflare's stock price is at an important resistance level as the market assesses whether it has more upside after soaring 41% in 2024. It was trading at $112.55, a few points below the key resistance level of $116.
Cloudflare Inc NET stock is trading upwards Thursday after Goldman Sachs analyst Gabriela Borges upgraded the stock from Sell to Buy and raised its price target from $77 to $140.
The stock of Cloudflare (NET 4.43%) is making gains in Thursday trading. The software specialist's share price was up 4.5% as of 10:15 a.m.
Cloudflare benefits from improving sales productivity and an appetite for artificial intelligence, say analysts.
The growth of digital content and cloud computing drove more demand for content delivery networks (CDNs) like Cloudflare (NET -1.24%). Cloudflare has a large network of data centers that helps reduce latency and speed up performance for things like video streaming and cloud applications.
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