JMP Lifts PT for Cloudflare (NET), Keeps Market Outperform Rating

Cloudflare, Inc. (NYSE:NET) is one of the 11 Best Under-the-Radar Stocks to Buy Right Now. On July 28, JMP Securities increased its price target for Cloudflare, Inc. (NYSE:NET) from $180 to $225 while keeping a Market Outperform rating, citing “a preponderance of positive data points.”

JMP believes Cloudflare, Inc. (NYSE:NET) is one of the first companies to benefit from the AI opportunity. The firm pointed out that the company’s developer-centric products help build AI instead of just securing it.

JMP Lifts PT for Cloudflare (NET), Keeps Market Outperform Rating

A close-up of a server array powering a cloud-services system.

The research firm expects momentum to continue for Cloudflare, Inc. (NYSE:NET) as the company makes progress in its late-stage business segments.

JMP specifically referred to Cloudflare, Inc.’s (NYSE:NET) advancement in what it calls “Act II (Zero Trust)” and “Act III (Workers AI)” as important areas of business development for the company.

Cloudflare, Inc. (NYSE:NET) is a leading connectivity cloud company that specializes in improving the security, performance, and reliability of websites and applications.

While we acknowledge the potential of NET as an investment, 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 a 100x upside potential, check out our report about the cheapest AI stock.

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