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SAN FRANCISCO - Cloudflare, Inc. (NYSE:NET), a $76 billion market cap company with impressive revenue growth of 27% year-over-year and industry-leading gross margins of 76%, announced a partnership with Giga, a joint initiative of UNICEF and the International Telecommunication Union, to help measure and monitor internet connectivity at schools worldwide. According to InvestingPro data, the company’s strong execution has driven its stock up 165% over the past year.
Under the partnership, Cloudflare will conduct up to 10 million monthly availability tests directly from schools using its Speed Test solution. The data collected will power Giga’s open-source platform, Giga Maps, which helps governments and organizations develop strategies to improve internet access in underserved communities. While currently trading near its 52-week high, InvestingPro analysis suggests the stock may be overvalued at current levels, though it maintains 14 additional key insights available to subscribers.
The initiative addresses a significant global challenge, with an estimated 1.3 billion children lacking home internet access and nearly 50 percent of students unable to use the internet daily at school.
"Connecting schools to the Internet is an essential part of ensuring all children can access digital learning tools and the information they need to thrive," said Thomas Davin, Global Director of UNICEF Office of Innovation, in the press release.
Cloudflare’s global network, which spans over 330 cities worldwide, will provide real-time data on internet speed, latency, and affordability to help identify connectivity gaps.
The collaboration aims to support Giga’s mission of universal school connectivity by giving governments, private sector, and civil society groups the data needed to track progress and implement connectivity solutions where they’re most needed.
Cloudflare CEO Matthew Prince said the partnership aligns with the company’s mission to "help build a better Internet" by making it more accessible.
The announcement comes as digital access increasingly determines educational and employment opportunities for young people globally. While Cloudflare is not yet profitable, analysts tracked by InvestingPro expect the company to achieve profitability this year, with comprehensive analysis available in the Pro Research Report, part of the platform’s coverage of 1,400+ top US stocks.
In other recent news, Cloudflare, Inc. announced plans to introduce NET Dollar, a U.S. dollar-backed stablecoin aimed at facilitating instant and secure transactions for AI-driven web activities. This initiative is part of Cloudflare’s efforts to support the emerging "agentic web." Additionally, Cloudflare has expanded its Project Galileo initiative to assist nonprofits and independent media organizations in managing AI access to their website content. This expansion provides free access to Cloudflare’s Bot Management and AI Crawl Control services for participants in Project Galileo.
In another development, Cloudflare has become the first Cloud Access Security Broker (CASB) to integrate with leading generative AI platforms, including ChatGPT Enterprise, Claude by Anthropic, and Google Gemini. This integration aims to enhance businesses’ control over AI use in the workplace. Cloudflare also announced new AI security features for its Zero Trust platform, Cloudflare One, designed to help organizations securely adopt generative AI applications. Meanwhile, Stifel has reiterated its Buy rating on Cloudflare stock, maintaining a $230 price target, expressing confidence in the company’s opportunities across various focus areas.
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