Stock Talk #36: Cloudflare

We wanted to do our stock talk round-up today, but that’ll have to wait till tomorrow as we urgently need to highlight this stock.
 
We still remember when we were sitting in our office when this company IPO’d last year. It was Mid-September and it was one of those exciting but also under-the-radar IPOs for 2019. What Cloudflare does is fairly easy to understand… Cybersecurity. Their services can sniff out any cyber threats, hacks, or viruses to any firm’s software.
 
Especially during 2019, privacy concerns were a huge thing. Feels like forever ago now, but when the World War III memes were going around with the U.S./Iran hostilities cybersecurity stocks including Cloudflare took off. You can only imagine with the WFH hype that they have continued to take off… Cloudflare is up 233% since its IPO less than a year ago!
 
We like to compare competitor’s market caps to see if there is room to run… Cloudflare is sitting at an $18 B market cap versus one of their closest competitors CrowdStrike ($CRWD) having a market cap of $34 B.
 
$60/share is expensive right now for $NET.. wait for a small pullback and try to get in around the low 50s.