Top 5 Growth Stocks in Cybersecurity

4. Cloudflare, Inc. (NYSE:NET)

Revenue Growth Over the Past Year as of March 9: 48.57%

Number of Hedge Fund Holders: 40

Cloudflare, Inc. (NYSE:NET) is a cloud services provider based in San Francisco, California. The company provides an integrated cloud-based security solution.

Andrew Nowinski at Wells Fargo holds an Overweight rating on Cloudflare, Inc. (NYSE:NET) shares as of February 13.

Over the past few years, Cloudflare, Inc. (NYSE:NET) has maintained its net revenue retention rate consistently above 100%. In 2020, it stood at 114%, and in 2021, it stood at 121%. This indicates that the company generated more revenue from existing customers. In the fourth quarter, the company’s revenue stood at $274.7 million, beating estimates by $632,420.

There were 40 hedge funds long Cloudflare, Inc. (NYSE:NET) in the fourth quarter, with a total stake value of $635 million.

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