Will Cloudflare Be Worth More Than Alphabet by 2030?
Cloudflare (NYSE: NET) has grown like a weed since its initial public offering in 2019. The cloud-based content delivery network (CDN) provider, which accelerates the delivery of digital content for websites, grew its revenue by 51% in 2019, 50% in 2020, and 52% in 2021. It expects another 48% to 49% bump this year.
It went public at $15 a share, and its stock soared to an all-time high of $217.25 last November during the buying frenzy in growth stocks. At its peak, it was valued at $70 billion -- more than 100 times the revenue it would generate in 2021. Today, it trades at about $50 with a market cap of $16 billion -- or 16 times the revenue it's expected to generate in 2022.
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Source Fool.com
