Why Cloudflare Stock Is Soaring Today
Shares of cybersecurity firm Cloudflare (NYSE: NET) were up Friday, gaining 3.9% as of 12:30 p.m. ET. The stock was up as much as 5.4% earlier in the day. The leg up comes as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 1% and 1.7%, respectively.
An analyst at upgraded Cloudflare's rating, helping to boost the stock.
In a research report on Friday, Citi's Fatima Boolani upgraded Cloudflare from neutral to buy, adjusting her price target for Cloudflare stock from $95 to $145. The new target represents a roughly 20.8% upside from its current level.
Source Fool.com
Citigroup Inc. Stock
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