Cloudflare Analyst Turns Bullish On AI Momentum, Security Market Gains
1. BofA upgraded NET from Underperform to Buy, price target raised to $160. 2. NET's growth in AI and security projects a 30% annual increase over three years. 3. Network security products are gaining market share, with 33% penetration noted. 4. AI spending forecasted to rise by 8%, with significant implications for customer budgets. 5. Risks include execution challenges and the slow revenue growth of AI services.