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Here's Why Cloudflare Stock Climbed 25% in February

TheMotleyFool

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Here's Why Cloudflare Stock Climbed 25% in February: https://g.foolcdn.com/editorial/images/768603/gettyimages-484193447.jpg

A strong quarterly earnings report pushed Cloudflare (NYSE: NET) shares 24.6% higher last month, according to data provided by S&P Global Market Intelligence. The cybersecurity leader posted better-than-expected results and issued optimistic guidance.

Cloudflare stock climbed immediately following its Feb. 8 earnings report. The company exceeded analyst expectations and issued encouraging forecasts for the year ahead. It notched an impressive 32% revenue growth last quarter and issued guidance calling for 27% expansion next year. That's welcome news, suggesting that the company's growth rate has stabilized after decelerating significantly in 2022.

Image source: Getty Images.

Source Fool.com

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