1 Magnificent Growth Stock That Could Soar 400% by 2028
Cloud services vendor Cloudflare (NYSE: NET) has grown at a tremendous pace since its initial public offering in 2019. The company increased revenue by 240% over the last three years, while its share price climbed 290%. Even so, Cloudflare has hardly scratched the surface of its addressable market, though it is gaining momentum in several cloud computing areas.
To that end, management expects revenue to grow fivefold in the next five years, and that could easily translate into fivefold returns (i.e., 400%) for shareholders, especially when revenue and share price have grown in lockstep for the last three years. But even if those returns fail to materialize in that time frame, this magnificent growth stock is still worth buying.
Here's why.
Source Fool.com
