Cloudflare (NYSE:NET) Expands Partnership with TD SYNNEX to Strengthen Security in Latin America

Cloudflare (NYSE:NET) recently announced an expansion of its partnership with TD SYNNEX to deliver managed security services in Latin America, aiming to cater to businesses facing cybersecurity challenges in hybrid work environments. Alongside this development, the company also entered a partnership with TekStream to boost cybersecurity solutions. These strategic moves may have influenced Cloudflare’s share price, which rose by 34% over the past month. This increase is in line with the broader market trend, as major indices also reported their best monthly performances since 2023 amid easing trade tensions and robust earnings reports.

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Over the past five years, Cloudflare’s shares achieved a remarkable total return of 468.70%, underscoring robust long-term growth. This strong performance contrasts with the company's one-year return, which surpassed the US IT industry by returning more than 37.6% compared to the industry's returns. This context highlights Cloudflare’s ability to outperform its peers over shorter time frames while maintaining impressive long-term gains.

The recent expansion of Cloudflare's cybersecurity services, alongside its partnership with TD SYNNEX and TekStream, could positively influence future revenue and earnings, aligning with the current revenue forecast of US$500 million to US$501 million for Q2 2025. Despite these potential growth drivers, the company's current share price stands higher than the consensus analyst price target, suggesting a more cautious market view regarding future price movements.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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