Tag #Edge Computing

What are the key factors driving Goldman Sachs' upgrade of Cloudflare's stock rating and its substantial increase in the price target?

Goldman Sachs upgraded Cloudflare's stock rating to "buy", increasing its price target to $140 from $77, reflecting a potential 30% upside. This upgrade is due to expected improvements in sales and marketing productivity, reducing customer acquisition costs and positively impacting revenue estimates. The analyst also highlighted the potential for monetization of Cloudflare's Act III products, driven by AI's shift to inferencing use cases.