Cloudflare (NYSE:REPORT) stocks were on a roll until they were caught up by the tech stock selloff that began in February. NET stock closed at an all-time high of $ 93.46 on February 9, rewarding investors with growth of around 425% over the previous 12 months. Then it started to crumble, dropping as low as $ 61.77 to start the week. NET has been in recovery mode for two sessions now, but still remains well below the February high. This offers the possibility of recovering NET shares at a reduced price.

I have no doubts that Cloudflare is a great choice as a technology company to invest in. It has been a bit pricey, but the current downturn helps remedy it and Cloudflare stocks offer great prospects for long-term growth.

The company is well positioned in a market that is only growing. She accumulates new clients and rapidly increases her income. The future is so bright that NET stock is on my list of “7 Safe Stocks to Buy for Your Retirement”. Here is why this Portfolio-Grader Stocks rated “A” receive such a strong recommendation.

Shopping, working or just browsing everyone hates a slow website

The coronavirus pandemic has accelerated a number of trends on the internet. Online shopping was more popular than ever as people avoided stores. Many companies have sent employees home to work. Schools have started offering distance learning options to students. When people weren’t shopping online, participating in video conferences, or accessing work files remotely, they were scouring websites for news and entertainment.

All of these activities become extremely boring if the websites are slow and slow to respond.

This is where Cloudflare comes in. As a CDN (Content Delivery Network), Cloudflare operates a network of distributed servers that host popular websites. The company has data centers in more than 200 cities worldwide. This wide distribution means that a Cloudflare server is geographically closer to people accessing a website. This means that the hosted websites are more responsive. This need for fast web responsiveness will never go away. If anything, the pressure is on After companies to use CDNs to improve their user experience.

Companies pay Cloudflare for this service, and as of Q4, this the number of paid clients exceeded 111,000. Additionally, Cloudflare noted that large companies – which pay significantly more in fees – were its highest growth segment.

One has to wonder why the NET stock gained 345% in 2020?

Online security is more important than ever

Cloudflare also offers cybersecurity services. This includes securing websites and web applications from attacks. Cloudflare also protects corporate networks and internal applications against threats, and ensures the security of remote devices.

The company ensures that the websites remain online and safe for users. And it also provides security services that protect businesses offering remote access and a mix of remote and on-site workers.

As hackers step up their efforts and more businesses shift to a permanent remote working capability, the demand for Cloudflare’s cybersecurity business has no choice but to increase.

Net result on NET stock

Cloudflare is a great addition to any portfolio. This is a tech title that has shown a promising growth trajectory. All signs point to this growth continuing.

Even after the current one-month drop, shares are worth 291% more than after Cloudflare went public in September 2019. The company is a leader in a growing CDN and website security marketplace. is developing in leaps and bounds – endless preview. The 15 financial analysts followed by the the Wall Street newspaper have Cloudfare stock classified as a consensus “Buy” with an average price target of $ 98.27. That’s almost 40% increase. Even the most pessimistic of the bunch have a price target of $ 75.00.

When analysts who advise against buying a stock estimate that it is still more than 6% higher, that’s a statement.

NET stock stumbled in 2021, but that’s because it was caught up by the massive sell-off in the tech sector. With NET now trading at a nearly 25% discount from its February high, savvy investors with a long-term eye will recognize this as a buying opportunity.

At the time of publication, Louis Navellier had a long position on NET. Louis Navellier did not have (directly or indirectly) any other position on the securities mentioned in this article. The InvestorPlace research staff member primarily responsible for this article did not hold (directly or indirectly) any position in any of the securities mentioned in this article.

Louis Navellier had an unconventional start, as a graduate student who accidentally built a market-beating stock system – with returns competing even with Warren Buffett. In his latest feat, Louis discovered the “master key” to take advantage of the biggest technological revolution of this (or any) generation.