On Monday, the stock market closed in the green for second time in a row. Investors now focused on more mixed economic data ahead of the Federal Reserve policy meeting this week.
Overall, S&P 500 rose 0.6% to 5,675, while NASDAQ increased 0.3% to 17,809.
Tweet of the Day
Nice look at Amazon’s warehouses $AMZN https://t.co/lfOb03YgOs
— David Sharek (@GrowthStockGuy) March 9, 2025
Chart of the Day
Here is the one-year chart of Cloudflare (NET) as of February 24, 2025, when the stock was at $148.
In last quarter’s earnings call, Cloudflare is winning more large customers, driven by its strong position in AI. Management stated the company saw record growth in its largest customers, who spent over $1 million with Cloudflare per year.
Cloudflare ended the quarter with around 3,500 large customers, a record addition of more than 740 large customers in 2024, an increase of 27% year-over-year. Notably, 232 of these were added last quarter alone, which is another record high! Because of this outstanding increase in large customers, revenue contribution from large customers rose to 69% this quarter, up from 66% a year ago. Management believes that Cloudflare has distinct opportunities in AI.
NET is part of our Growth Portfolio. It’s a buy-and-hold stock for us.
