Why Cloudflare Stock Is Jumping Today
Cloudflare (NYSE: NET) stock is seeing another day of impressive gains in Monday's trading. The cybersecurity and web services company's share price was up 3.8% as of 2:45 p.m. ET. Meanwhile, the S 500 index was up 0.7%, and the Nasdaq Composite index was up 1.1%. Cloudflare had been up as much as 5.9% earlier in the session.
Following explosive gains in Friday's trading, Cloudflare stock is seeing continued bullish momentum thanks to coverage from analysts. Before the market opened this morning, and Susquehanna raised their price targets for the tech company's stock -- and the new estimates are helping lift its share price higher
In a note published this morning, Mizuho analyst Gregg Moskowitz raised his one-year price target on Cloudflare from $130 per share to $160 per share. On the other hand, the analyst still maintained a neutral rating on the stock. As of this writing, the new price target actually suggests potential downside of 7.5% for Cloudflare.
Source Fool.com
