Down 65% in 2022, Is CloudFlare Stock a Buy for 2023?

By Parkev Tatevosian, CFA – Jan 6, 2023 at 6:30AM

NYSE: NET

Cloudflare

Market Cap

$31B

Today's Change

(-3.65%) -$3.42

Current Price

$90.34

Price as of April 15, 2024, 4:00 p.m. ET

Internet stocks did not fare well in 2022, but 2023 could be a better year.

In this video, I will briefly evaluate Cloudflare (NET -3.65%) stock to determine if investors should buy this stock in 2023.

*Stock prices used were the afternoon prices of Jan. 3, 2023. The video was published on Jan. 5, 2023.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cloudflare. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through fool.com/parkev, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.