Is Beaten-Down Cloudflare Stock a Buy After a Huge Upgrade In 2021 Expected Sales?
Cloudflare (NYSE: NET) had an awesome first quarter of 2021, but no one seems to care. Share prices for the internet infrastructure and cybersecurity firm are down nearly 30% from all-time highs as of this writing, sliding along with other tech stocks in general since March as investors are favoring companies that stand to benefit from the economic reopening.
To be fair, Cloudflare still carries a hefty premium even after the recent crash in its stock price and a big upgrade in full-year 2021 sales guidance. Nevertheless, for investors with years to wait patiently, this is one of the most exciting tech names to be invested in as cloud computing starts to migrate to the network edge.
I've been following Cloudflare since its IPO in 2019, and unlike some of its peers in the edge computing industry, Cloudflare's momentum has continued at a torrid pace and is showing little sign of slowing.
Source Fool.com
