Key Takeaways:
- Cloudflare (NET, Financial) shares recently declined, breaking a positive trend streak.
- Stock performance in 2023 has been robust, with an 83% surge year-to-date.
- Analysts present a mixed view, balancing between "Hold" and "Buy" recommendations.
Cloudflare's Recent Market Activity
On Tuesday, shares of Cloudflare Inc. (NET) witnessed a 5.56% decline, closing at $184.95, thus ending a promising run of six consecutive days of gains. Despite this dip, the stock has shown significant upward momentum, recording an almost 14% increase over the past month and a remarkable 83% rise since the beginning of 2023. This performance attracts a spectrum of analyst opinions, ranging from "Hold" to "Buy," largely driven by Cloudflare's robust financial growth.
Wall Street Analysts Forecast
Wall Street analysts have set their sights on Cloudflare, presenting a one-year average target price of $159.83 derived from 29 analysts' evaluations. Price predictions span from a high of $240.00 to a low of $70.00. This average target price reflects a potential downside of 13.58% from Cloudflare's current trading price of $184.95. To explore more detailed forecasting data, visit the Cloudflare Inc (NET, Financial) Forecast page.
Brokerage Recommendations and GF Value Analysis
The consensus recommendation amid 35 brokerage firms positions Cloudflare Inc. (NET, Financial) with an average rating of 2.3, indicating an "Outperform" status. This rating is evaluated on a scale from 1 (Strong Buy) to 5 (Sell).
Further insights from GuruFocus estimates suggest that the GF Value for Cloudflare Inc. (NET, Financial) over the next year is $145.52, which implies a potential downside of 21.32% from the current market price of $184.95. The GF Value metric is GuruFocus's estimation of the stock's fair value, calculated using historical trading multiples, past business growth, and future performance projections. For more comprehensive data, visit the Cloudflare Inc (NET) Summary page.
