“Cloudflare Is On A Mission As AI Frenzy Sparks A 40% Rally For NET Stock”
December 29, 2023
“Cloudflare (NET) is enthralling investors with its prospects for generative artificial intelligence, driving a rally of nearly 40% since it reported third-quarter results last month. The AI frenzy represents a major rebound for NET stock, which saw a huge sell-off in late April on softer-than-expected forecasts…
Cloudflare’s paying customers in the third quarter increased 17% year over year to 182,027. Meanwhile, paying customers that generate more than $100,000 in annual revenue jumped 34% to 2,558. However, the year-over-year growth rate for Cloudflare’s large-enterprise customers was flat vs. the second quarter. The rate steadily fell from 71% during the fourth quarter of 2021…”