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6 Green Flags for Cloudflare's Future

TheMotleyFool 
0 0 30.09.23
6 Green Flags for Cloudflare's Future: https://g.foolcdn.com/editorial/images/749151/woman-cloud-tablet.jpg
 

Cloudflare's (NYSE: NET) stock has rallied more than 30% this year as the cloud-based content delivery network (CDN) provider impressed investors with its robust growth in a tough macroeconomic environment. It expects its revenue to rise 32% in 2023, compared to 49% growth in 2022, while its adjusted EPS surges 185%.

Investors might be reluctant to chase Cloudflare at these levels given the stock is undeniably pricey at 128 times forward earnings and 15 times this year's sales. However, Cloudflare recently rolled out a new AI platform while securing five new partnerships. Let's see why those six developments could represent green flags for its future.

Image source: Getty Images.

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Source Fool.com

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