Cloudflare Forecasts Strong Growth Amid AI and Enterprise Momentum
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Cloudflare's Q4 revenue and earnings exceeded expectations, driven by increasing customer spending and growth in large enterprise customers.
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Cloudflare serves a massive $164B market in 2024, with additional growth from AI opportunities. Its Workers AI platform is seeing 9x increase in daily requests since September launch.
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Cloudflare aims to deploy inference-tuned GPUs for AI across its global network of 300 cities, capitalizing on fast-growing AI-as-a-service market.
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Cloudflare forecasts 27% revenue growth in 2024 to $1.65B. Analysts expect 62% bottom line growth annually over next 5 years.
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Based on projected future growth, Cloudflare's stock could reach $164 in 5 years, a 60% increase over today's price, presenting a compelling bull case.