10 AI News You Probably Missed

4. Cloudflare, Inc. (NYSE:NET)

Number of Hedge Fund Holders: 44

Cloudflare, Inc. (NYSE:NET) offers cloud solutions that incorporate AI to improve security, performance, and zero-trust services across multiple platforms, such as IoT and SaaS applications.

Citi analyst Fatima Boolani upgraded Cloudflare (NYSE:NET) to Buy from Neutral and raised its price target to $145 from $95, due to confidence in its role in AI development, especially as AI training shifts to inferencing. The analyst highlighted opportunities through its Apple partnership, improved sales productivity following 2023 changes, and strong leadership additions. While the stock carries a high valuation, Citi believes Cloudflare can sustain 27-30% revenue growth and achieve $5 billion in revenue by 2028, with profitability supported by expanding free cash flow margins.