TipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Apple and Foot Locker.
), a cloud-based content distribution network and security provider. The company has an extensive global network that reaches more than 285 cities in over 100 countries and powers websites, APIs , and mobile applications.thinks that the market is "underappreciating" Cloudflare's ability to leverage the breadth of its global presence to "efficiently deliver new applications, including advanced security, with limited incremental cost.
Eyal, who ranks 11 out of more than 8,300 analysts tracked on TipRanks, expects Cloudflare's revenue to grow more than 38% this year, driven by new business and expansion within the company's existing customer base. Eyal noted that over 40% of the company's revenue is generated internationally, and the company is "disrupting" several market segments, including infrastructure, telecommunications, security, and edge computing. Currently, these segments represent a total addressable market of over $115 billion, which is expected to grow to $135 billion by 2024.
Eyal reaffirmed a buy rating on Cloudflare with a price target of $75. Remarkably, Eyal has a success rate of 67% and each of his ratings has returned 24.1%, on average.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meet Peter Tuchman, the most photographed stock trader on Wall StreetWhat You Need To Know About Markets And The Economy
Read more »
Wall Street falls as bank contagion fears flare upWall Street's main indexes fell on Friday as investors fled from risky assets on growing concerns that a contagion in the banking sector had not been fully confined despite assurances from key officials.
Read more »
Wall Street ends volatile week higher as Fed officials ease bank fearsU.S. stocks closed higher on Friday, marking the end of a tumultuous week as Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector.
Read more »
Wall Street ends volatile week higher as Fed officials ease bank fears By Reuters*WALL STREET ENDS VOLATILE WEEK HIGHER AS FED OFFICIALS EASE BANK FEARS $DIA $SPY $QQQ 🇺🇸🇺🇸
Read more »
Analysis: Wall Street push for bank rescues clashes with Washington realitiesThe banking crisis set off by the swift collapse of Silicon Valley Bank has exposed a sharp disconnect between Washington and Wall Street. Bankers want faster, more aggressive action to shore up the industry, while the Biden White House and regulators argue they've done what they can within the limits of the law.
Read more »
From the African Coast to Towers of Wall Street, the Climate Bombs Are TickingThe devastation of Cyclone Freddy serves as a stark illustration of the warnings included in the new IPCC report.
Read more »