Why Cloudflare's Stock Is Trading Higher Today

Cloudflare NET shares were trading higher on Thursday after Oppenheimer maintained an Outperform rating on the stock and raised its price target from $35 to $55.

Cloudflare is a United States-based company engaged in the software business. It has built a cloud platform that delivers a range of network services to businesses. The product offerings of the company include Argo Smart Routing, Load Balancing, Web Optimizations, Cloudflare Access, and Cloudflare Spectrum among others.

Cloudflare shares were trading up 7% at $41.41 during the time of publication on Thursday. The stock has a 52-week high of $42.60 and a 52-week low of $14.50.