Up Over 30% So Far in 2024, Is Cloudflare Stock a Buy Right Now?
Cloudflare (NYSE: NET) -- an emerging leader in next-gen internet infrastructure, cybersecurity, and cloud-based app development tools -- remains on a solid growth trajectory. Despite a big slowdown for many cloud-based software companies in 2023, Cloudflare had a solid showing with full-year revenue growth of 33% to $1.3 billion.
Artificial intelligence (AI) has been at least some of the fuel sending the stock higher, but the stock is ramping up much faster than actual business expansion. Shares have more than doubled in value since the start of 2023. That has some wondering if the stock is getting more hype than is warranted.
Is Cloudflare stock a top buy right now, or should investors wait for a potential bubble-popping pullback?
Source Fool.com
