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Recently, Zacks.com users have been paying close attention to Cloudflare (NET). This makes it worthwhile to examine what the stock has in store.
Cloudflare Inc. has shown significant volatility, making it an exciting stock to trade but challenging to hold long term. Technical indicators suggest potential for a breakout above $83.50, driven by strong momentum and positive MACD trends. Risks include an overbought RSI and the possibility of a "death cross" if the stock faces negative catalysts.
In the closing of the recent trading day, Cloudflare (NET) stood at $79.34, denoting a +1.57% change from the preceding trading day.
Cloudflare's valuation remains high, but its financial performance and product innovation position it as a best-in-class company. Rumors of a DigitalOcean acquisition suggest Cloudflare aims to expand its cloud computing business, though this may distract from current sales execution issues. Cloudflare's revenue growth is likely to dip below 30% in Q3 but should reaccelerate in 2025 on the back of improved sales execution and more favorable macro conditions.
Subscribers to Chart of the Week received this commentary on Sunday, September 29.
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 (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.
SAN FRANCISCO--(BUSINESS WIRE)--Cloudflare is helping to build trust that end-to-end encrypted messages are delivered to the intended recipients.
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.