Cloudflare Announces First Quarter 2024 Financial Results

Cloudflare Inc. (NET) PT Lowered to $76 at UBS

UBS analyst Roger Boyd lowered the price target on Cloudflare Inc. (NYSE: NET) to $76.00 (from $88.00) while maintaining a Sell rating.

The analyst comments "1Q results were generally positive with an ~average 1.4% topline beat and healthy margin beats (OpM of 11.2%, +450bps... More

Cloudflare Inc. (NET) PT Lowered to $80 at Cantor Fitzgerald

Cantor Fitzgerald analyst Yi Fu Lee lowered the price target on Cloudflare Inc. (NYSE: NET) to $80.00 (from $100.00) while maintaining a Neutral rating.

The analyst comments "We are maintaining our Neutral rating and adjusting our Price Target to $80 from $100 based on an uncertain... More

Cloudflare (NET) stock tumbles as unchanged outlook overshadows Q1 beat

(Updated - May 3, 2024 4:06 AM EDT)

Cloudflare (NYSE: NET) stock plunged more than 13% in premarket trading Friday after the cloud services provider left the outlook for the full fiscal year unchanged.

For the fiscal Q1, the company reported earnings per share (EPS) of $0.16, topping the consensus estimates of $0.13. Revenue came in at $378.6 million, beating the expected $373.24 million.

The non-GAAP gross profit reached $301.1 million, equating to a 79.5% gross margin, compared to $225.9 million or a 77.8% gross margin in the first quarter of 2023.

Looking forward, Cloudflare provided guidance for Q2 2024, expecting an EPS of $0.14,... More

Cloudflare (NET) Tops Q1 EPS by 3c, Offers Guidance

Cloudflare (NYSE: NET) reported Q1 EPS of $0.16, $0.03 better than the analyst estimate of $0.13. Revenue for the quarter came in at $378.6 million versus the consensus estimate of $373.24 million.

GUIDANCE:

Cloudflare sees Q2 2024 EPS of $0.14, versus the consensus of $0.13. Cloudflare sees Q2 2024 revenue of... More