Down 52%, This Magnificent Growth Stock Is a Screaming Buy
Shares of Cloudflare (NYSE: NET) were in the doghouse after the company released its first-quarter 2023 results on April 27, as management spooked investors with a guidance cut and pointed out that macroeconomic headwinds are affecting its business.
Cloudflare stock plunged 21% on April 28 as the company missed Wall Street's revenue expectations by a slim margin, bringing an end to an impressive 2023 rally. Investors were also disappointed with the company's second-quarter guidance, as it is expected to deliver much slower growth than analysts' expectations.
Shares of the internet infrastructure services provider have now lost 52% of their value in the past year. However, the near-term weakness in Cloudflare's business could open an opportunity for savvy investors to buy shares of a potential long-term winner at a relatively attractive valuation. Let's see why this is an opportunity you may not want to miss.
Source Fool.com
