Cloudflare, Inc. (NET Quick QuoteNET - Free Report) and Booz Allen Hamilton (BAH Quick QuoteBAH - Free Report) have joined forces to offer expedited Under Attack as a Service (UAaaS) with 30-Day Rapid Response distributed denial-of-service (DDoS) Mitigation. This strategic collaboration aims to provide immediate incident response and continuous protection for enterprises facing cyberattacks, ensuring uninterrupted business operations during critical times.

In today's digital landscape, cyber threats, such as DDoS attacks and ransomware, pose significant risks to organizations worldwide. Cloudflare, known for its robust connectivity cloud, and Booz Allen Hamilton, a leader in cyber expertise, have joined forces to deliver a comprehensive solution to mitigate these threats swiftly and effectively.

Mark Anderson, the president of revenue at Cloudflare, highlights the company's capability to stop even the largest cyberattacks globally. He emphasizes the importance of rapid response in safeguarding businesses against evolving cyber threats. Brendan Rooney, the senior vice president at Booz Allen, underscores the urgent need for effective mitigation solutions to address the escalating threat landscape.

How Does the UAaaS Aid Organizations?

Enterprises benefit from Cloudflare's extensive global network protection, which includes one of the largest and most interconnected networks in the world. Booz Allen's Global Commercial Incident Response team provides comprehensive guided support, working closely with Cloudflare's Under Attack Threat Advisory Solution Engineer teams to mitigate attacks promptly.

During the 30-day Incident Response period, Cloudflare's network continuously analyzes traffic patterns and identifies potential threats, intervening before any disruption occurs. Additionally, the combined expertise of Cloudflare and Booz Allen ensures proactive defenses are implemented to protect against future attacks.

Clients receive detailed reports on attack vectors, mitigation strategies and overall network performance, providing valuable insights into remediation efforts. This collaborative effort between Cloudflare and Booz Allen Hamilton aims to empower organizations with the necessary tools and expertise to combat cyber threats effectively and maintain operational resilience in today's dynamic threat landscape.

Portfolio Expansion Drives Growth

Cloudflare continues to focus on strengthening its portfolio by adding new capabilities that include Defensive.AI, Cloudflare One Data Protection Suite, Hyperdrive and Magic WAN Connector. Most recently, in April, the company unveiled Workers AI, a groundbreaking tool that enables developers to deploy AI applications globally with just one click.

Moreover, since its inception in 2009, the company has acquired 10 businesses. Most recently, in April 2024, Cloudflare announced that it acquired Baselime, the cloud-native observability platform, signaling its entry into the observability market. This move allows Cloudflare to address the challenges of observability for serverless applications by leveraging Baselime's technology and expertise in serverless platforms.

Earlier, NET bolstered its product suit with the acquisition of Area 1 Security in February 2022, which has developed a product that tracks phishing attacks and stops them before they land in an employee’s inbox. In the same month, it bought Vectrix, a company that provides businesses with one-click visibility and control across all its SaaS applications.

Cloudflare is witnessing huge growth in customer numbers for its core application services, Zero Trust solutions and network services like Magic Transit in Cloudflare One. Given the risks posed by advanced cyber threats to businesses' finances and reputations, NET is rapidly expanding its role in this area with its advanced global cloud security platforms.

The abovementioned factors have been driving Cloudflare’s financial performance. The company’s fourth-quarter 2023 revenues and adjusted EPS surged 32% and 150%, respectively, on a year-over-year basis. The robust top-line growth was aided by client wins and growing momentum among large enterprise customers, driven by the heightened need for stronger security and a zero-trust approach.

Zacks Rank & Stocks to Consider

Cloudflare currently carries a Zacks Rank #3 (Hold). The NET stock has risen 14.5% in the year-to-date (YTD) period.

Some better-ranked stocks in the broader technology sector are BILL Holdings, Inc. (BILL Quick QuoteBILL - Free Report) , Meta Platforms (META Quick QuoteMETA - Free Report) and Twilio (TWLO Quick QuoteTWLO - Free Report) . BILL Holdings currently sports a Zacks Rank #1 (Strong Buy), while Meta and Twilio each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BILL Holdings’ fiscal 2024 earnings has been revised upward by 2 cents to $2.23 per share in the past seven days, which calls for an increase of 35.2% on a year-over-year basis. The long-term expected earnings growth rate for the stock is pegged at 23.6%. BILL shares have plunged 21.5% YTD.

The Zacks Consensus Estimate for Meta Platforms’ 2024 earnings has been revised 12 cents upward to $19.94 per share in the past 60 days, which suggests year-over-year growth of 34.1%. The long-term estimated earnings growth rate for the stock stands at 19.5%. The META stock has soared 46.7% YTD.

The consensus mark for Twilio’s 2024 earnings has been revised upward by 27 cents to $2.64 per share over the past 60 days, which indicates a 7.8% increase from 2023. It has a long-term earnings growth expectation of 19.6%. The TWLO stock has declined 19.3% in the YTD period.