Cloudflare's (NYSE: NET) stock hit an all-time high of $221.64 last November. But over the past two months, it plunged nearly 50% as interest rate fears overshadowed the company's impressive growth rates.
But does that deep pullback represent a good buying opportunity for investors who missed out on Cloudflare's massive gains last year? Let's take a fresh look at its business and valuations to find out.
Cloudflare's services are wedged between a website and its visitors. Its content delivery network (CDN) accelerates a website's delivery of images, videos, and other media for its users. Its domain name server (DNS) service directs website addresses to the correct IP addresses, while its cybersecurity services block bots and distributed denial-of-service (DDoS) attacks.
Source Fool.com