), 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.
For my experience, when you read about free stock tips in CNBC, it’s usually too late to buy those stocks even if they are good stocks. Remember - there’s no free lunch in Wall St. 😉😁