Analysts highlight that the net stock price forecast for cloud computing leaders could see 6% quarterly returns, in line with increasing corporate tech spending. Recently, Mizuho analyst Gabe Moreen upgraded OGS stock to buy from hold and increased his price forecast to $86 from $77, citing several reasons, such as the benefits from the Texas HB 4384 legislation (enables recovery of certain costs associated with a gas utility's plant, facilities, or equipment placed in service) and lower interest rates. Meanwhile, TipRanks' AI Analyst has a "neutral" rating on OGS stock with a price target of $81. Our fair value estimate for Cloudflare is $104 per share, implying a 2024 enterprise/sales multiple of 17 times. We forecast Cloudflare’s revenue growing at a 27% compound annual growth rate over the next five years with secular tailwinds behind its back. We view Cloudflare’s future growth as a result of two key drivers. First, the firm’s security business is primed for growth as it lands bigger clients and upsells them more modules. Further, this vertical is poised for growth as a result of a general increase in cybersecurity spend as businesses deal with a more complex web of cybersecurity threats than before. Second, the firm’s investment in the edge computing platform provides it with another driver of top-line growth. As edge computing becomes a larger part of the overall technology ecosystem, we believe Cloudflare will continue to drive meaningful margin and top-line expansion. Net stock price forecast for renewable energy companies remains bullish, as policy incentives drive capacity expansion. Analysts project a 6% price appreciation in clean energy ETFs through September 2024.
