Cloudflare stock: Rule of 40 points to overvaluation pre-earnings
Cloudflare (NYSE: NET) stock price has moved sideways this year as concerns about its growth and valuation remain. It has risen by about 5% this year and by almost 100% in the past 12 months, giving it a market cap of over $30 billion. Cloudflare earnings aheadCloudflare has been one of the fastest-growing companies in the United States, helped by the rising demand of its products. It has become the company to go to for most developers looking for CDN networks. The company’s revenues have risen sharply in the past few years. Annual revenue soared from $287 million in 2019 to over $1.29 billion...