The cloudflare stock (NET:NYE) reported impressive Q4 results, with revenue exceeding forecasts and cash flow generation reaching new heights. The revenue from large clients climbed by 56%, and they now account for 63% of total revenue.
The company’s forecast for 2023 is somewhat higher than Wall Street’s estimates, and it has reiterated positive cash flows through 2023 and beyond. The CEO of Cloudflare believes the company’s success is due to its culture of constant innovation and exceptional products.
With new people on board, the company is now concentrating on the commercial side, and it sees chances to drive development through improved execution. The R2 product from Cloudflare is gaining popularity among AI firms, and the company recently received FedRAMP certification for the majority of its products.
Cloudflare stock is selling at the bottom end of its historical valuation range, and EBITDA and profit expectations have increased. Buying the correct firm is significantly more crucial than paying the lowest feasible price if you are a long-term investor.
NET Stock Price Analysis:
Based on the Cloudflare stock forecast from 29 analysts, the average analyst target price for Cloudflare Inc is USD 67.08 over the next 12 months. Cloudflare Inc’s average analyst rating is Buy.
Stock Target Advisor’s own stock analysis of Cloudflare Inc is Slightly Bearish, which is based on 4 positive signals and 7 negative signals. At the last closing, Cloudflare Inc’s stock price was USD 64.08. Cloudflare Inc’s stock price has changed by +13.12% over the past week, +45.87% over the past month, and -38.92% over the last year.
Company Profile:
CloudFlare, Inc. operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers an integrated cloud-based security solution to secure a range of combinations of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices.
The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as the government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
