2 Reasons to Buy Cloudflare Stock, and 1 Reason to Sell
Companies are ditching clunky on-premises box servers in favor of cloud-based software-as-a-service (SaaS) platforms in droves. The switch saves space, cuts costs, reduces capital expenses, gives businesses more flexibility, and is generally more efficient.
But we need to be able to access cloud applications and websites when we need them. Cloudflare (NYSE: NET) provides one of the largest global Content Delivery Networks (CDN) to make connections fast, safe, and reliable. Website performance is essential, which is why Cloudflare reports more than 151,000 paying customers.
The stock has plunged in 2022 along with other fast-growing but unprofitable tech companies. With shares down 60% year to date, here are the two sides to Cloudflare's story that investors need to know.
Source Fool.com
