13 Best Edge Computing Stocks to Buy According to Hedge Funds

9. Cloudfare, Inc. (NASDAQ:NET)

Number of Hedge Fund holders: 55

Cloudfare, Inc. (NASDAQ:NET) is one of the biggest pure-play edge computing companies. The company’s flagship, Cloudfare Workers, is an edge compute offering where developers write code that run on the edge. The company combines edge computing with network security, which is its key strength. It also improves speed and performance at the edge via smart traffic routing, global content caching, load balancing and real-time optimization. Cloudfare, Inc. (NASDAQ:NET) has data centers in over 310 cities around the world.

On April 7, Oppenheimer maintained Cloudfare’s outperform rating and kept its price target unchanged at $150. Citing its industry checks, the firm said it believes Cloudflare contracts are “highly unlikely” to get cut from the budget as they fall under mission-critical systems. The company can achieve its 2025 target despite economic concerns relating to the impact of tariffs, federal budget cuts, and a potential recession risk, Oppenheimer said. The firm thinks that Cloudfare will be able to “reaccelerate” its growth after navigating the current economic landscape.