#4 - Cloudflare (NYSE:NET)
The next NFT-related stock on the list is Cloudflare (NYSE:NET). The company is known for its cybersecurity products and has been growing its portfolio and revenue particularly as it relates to cloud storage. However, through the company’s Cloudflare Stream product they are allowing creators to publish their videos online without concerns about things like video quality, device, and compatibility.
And, to allow them to claim ownership of their works and have control over how ownership is transferred, creators are looking to develop NFTs. Cloudflare Stream has an API that uses an ERC-721 token ID and contact address so every video is represented as an NFT.
NET stock is currently trading at the lower end of its 52-week range and has a consensus price target that points to a 60% upside for the stock. The company reports earnings in early May. A good report may send analyst's targets higher.
About Cloudflare
Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.
Read More - Current Price
- $104.23
- Consensus Rating
- Hold
- Ratings Breakdown
- 10 Buy Ratings, 12 Hold Ratings, 4 Sell Ratings.
- Consensus Price Target
- $92.88 (10.9% Downside)
