Citizens JMP Lifts Cloudflare (NET) PT to $225 as Analysts Eye AI Opportunity

Cloudflare Inc. (NYSE:NET) is one of the best growth stocks to buy and hold for 3 years. On July 28, Citizens JMP increased its price target on Cloudflare to $225 from $180, while maintaining an Outperform rating on the shares. The firm cited positive data points ahead of the earnings report, such as strong attainment data. Citizens JMP views Cloudflare as the earliest beneficiary of the AI opportunity within its coverage.

In Q1 2025, Cloudflare’s total revenue for the quarter reached $479.1 million, which was a 27% increase year-over-year. Cloudflare also achieved its highest year-over-year growth in net new Annual Contract Value/ACV in 3 years. Free cash flow was $52.9 million, or 11% of revenue, which was also an improvement from $35.6 million in Q1 2024.

Citizens JMP Lifts Cloudflare (NET) PT to $225 as Analysts Eye AI Opportunity

A close up of a software engineer typing on a laptop keyboard, focusing on the code development part of the company.

For Q2, Cloudflare expects total revenue between $500 and $501 million. For the full fiscal year 2025, the company expects total revenue of $2,090 to $2,094 million.

Cloudflare Inc. (NYSE:NET) is a cloud services provider that delivers services to businesses worldwide. It provides an integrated cloud-based security solution to secure a range of combination of platforms, such as public cloud, private cloud, on-premises, SaaS applications, and IoT devices.

While we acknowledge the potential of NET to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NET and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.