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.

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