- Cloudflare's stock surged 11% in premarket trading after surpassing first-quarter revenue expectations.
- Analysts from BofA Securities maintain a Buy rating, underscoring Cloudflare's strategic AI and cybersecurity deals.
- Wall Street's average price target suggests a potential 17.31% upside from current levels.
Cloudflare (NET, Financial) experienced a significant 11% jump in premarket trading, thanks to an impressive first-quarter performance. The company reported revenue of $479 million, exceeding its guidance by $10 million. This performance has prompted BofA Securities analysts to reaffirm a Buy rating on the stock with a target price of $160. This optimistic outlook is bolstered by Cloudflare's involvement in notable agreements and its strong foothold in the AI and cybersecurity sectors.
Wall Street Analysts Forecast
When examining the one-year price targets from 28 analysts, Cloudflare Inc. (NET, Financial) presents an average target price of $145.83. This forecast includes a high estimate of $200.00 and a low of $70.00, pointing to an anticipated upside of 17.31% from the current trading price of $124.31. To explore more in-depth estimate data, visit the Cloudflare Inc (NET) Forecast page.
The consensus among 34 brokerage firms places Cloudflare Inc. at an average recommendation level of 2.3, which translates to an "Outperform" status. The rating scale ranges from 1, representing a Strong Buy, to 5, indicating a Sell.
According to GuruFocus estimates, the calculated GF Value for Cloudflare Inc. (NET, Financial) is projected to be $140.97 over the next year. This suggests a potential upside of 13.4% from its current price of $124.31. The GF Value metric represents GuruFocus' estimation of the stock's fair trading value, derived from historical multiples and past business growth, alongside future performance projections. More comprehensive data and insights can be accessed on the Cloudflare Inc (NET) Summary page.
