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Why Cloudflare Stock Was on Fire Monday

TheMotleyFool

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Why Cloudflare Stock Was on Fire Monday: https://g.foolcdn.com/editorial/images/705069/a-person-sitting-at-a-desk-with-multiple-computer-monitors-writing-code.jpg

Shares of Cloudflare (NYSE: NET) were sharply higher on Monday, surging as much as 15.7%. By 3:33 p.m. ET today, the stock was still up 13.3%.

A broad uptrend in the overall market no doubt added fuel for its ascent, but the cloud computing company was also on the receiving end of an upgrade and some bullish commentary courtesy of a Wall Street analyst.

Wells Fargo analyst Andrew Nowinski upgraded Cloudflare to overweight (buy) from equal weight (hold), while simultaneously boosting his price target to $65, up from its previous level of $62.

Source Fool.com

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