10 AI News Updates You Should Not Miss

7. Cloudflare, Inc. (NYSE:NET)

Number of Hedge Fund Holders: 44

Cloudflare, Inc. (NYSE:NET) is a cloud services provider that powers AI workloads through its Workers AI platform. On February 7, UBS raised the firm’s price target on the stock to $165 from $130 and kept a “Neutral” rating on the shares. The firm noted that Cloudfare’s Q4 performance was a “shade light” given the year-to-date stock performance. Nevertheless, it has demonstrated a modest margin beat, record large and total customer additions, and the first increase in net recurring revenue since Q3 2023. The analyst also told investors in a research note that there are “encouraging signs that confidence is beginning to return,” especially in security modernization and AI projects in the U.S.