From NASDAQ.: 2024-06-22 10:38:28

In the cybersecurity realm, artificial intelligence (AI) serves as a powerful tool and potential weakness. Cloudflare, Inc. (NET) has bolstered Apple’s privacy and security since 2020, predicting revenue growth from Apple’s AI push. Cloudflare’s AI integration, low stock trading position, and promising prospects make it an attractive investment option with solid fundamentals and growth potential.

Cloudflare’s Q1 earnings showcased a 30% revenue increase to $378.6 million, surpassing estimates. With a record-high customer base, Cloudflare anticipates strong financial performance in Q2 and beyond. Analysts predict a significant boost to Cloudflare’s growth due to its involvement in Apple’s AI expansion, with a consensus “Moderate Buy” rating and a mean price target of $90.08.

Morgan Stanley underscores Cloudflare’s potential for revenue growth from fiscal 2025 to 2027, driven by Apple’s AI expansion. Despite optimism, caution remains with an “Equal-weight” rating on NET stock. The mean price target for Cloudflare stock indicates a 15.5% upside potential, with a Street-high target projecting a 73.2% rally.



Read more at NASDAQ.: Grab This Cybersecurity Stock Now for AI-Driven Revenue Growth