Cloudflare Stock Rallies After Rare Double Upgrade

Group 1 - Cloudflare Inc (NYSE:NET) stock has increased by 5.9% following a double upgrade from BofA Global Research, raising the price target from $60 to$160 due to strengthening fundamentals and growth catalysts [1] - Despite a 28.3% year-over-year gain, 18 out of 30 brokerages still rate the stock as "hold" or worse, indicating potential for further upgrades [2] - The stock has experienced an 18.5% decline in the last month, pulling back from a record high of $177.37 on February 14, but is attempting to break out of a near-term downtrend [5] Group 2 - Options activity indicates caution among traders, with a 50-day put/call volume ratio of 1.11, ranking in the 97th percentile of annual readings, suggesting a bearish sentiment [3] - The Schaeffer's Volatility Index (SVI) for Cloudflare is at 46%, in the 17th percentile of its 12-month range, indicating relatively low option premiums, which may be favorable for long volatility strategies [4]