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Why Cloudflare Stock Soared Today

TheMotleyFool

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Cloudflare (NYSE: NET) stock surged in Tuesday's trading. The web services and cybersecurity specialist's share price ended the day's trading up 10.7% amid the backdrop of a 0.8% gain for the S 500 index and a 2% jump for the Nasdaq Composite index.

Despite sell-offs for the broader tech sector Monday, Cloudflare actually closed the day with significant valuation gains, and its rally continued in today's session. In addition to rebound momentum for the market, the stock also got a boost from two bullish reports from analysts.

Before the market opened today, JMP Securities published a new note maintaining an outperform rating on Cloudflare. In other words, the firm's analysts believed the stock was a worthwhile buy.

Source Fool.com

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