Cloudflare (NYSE:NET) Issues Q1 Earnings Guidance

Cloudflare (NYSE:NET) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of ($0.06)-($0.05) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.05). The company issued revenue guidance of $87-88 million, compared to the consensus revenue estimate of $84.14 million.Cloudflare also updated its FY 2020
After-Hours guidance to -0.21–0.19 EPS.

Shares of NYSE:NET traded down $0.32 during midday trading on Friday, reaching $17.75. 4,739,910 shares of the company traded hands. Cloudflare has a 12 month low of $14.50 and a 12 month high of $22.08. The business’s fifty day moving average price is $17.82.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $83.93 million for the quarter, compared to the consensus estimate of $79.12 million. On average, sell-side analysts predict that Cloudflare will post -0.32 EPS for the current fiscal year.

NET has been the topic of a number of analyst reports. Zacks Investment Research upgraded Cloudflare from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research note on Thursday, January 16th. Robert W. Baird initiated coverage on Cloudflare in a research note on Thursday, January 9th. They set an outperform rating and a $22.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Cloudflare in a research note on Monday, November 4th. They set an overweight rating and a $20.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Cloudflare from $18.00 to $20.00 and gave the company a hold rating in a research note on Friday. They noted that the move was a valuation call. Finally, Needham & Company LLC boosted their price objective on Cloudflare from $22.00 to $24.00 and gave the company a buy rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Cloudflare presently has a consensus rating of Buy and an average target price of $21.25.

Cloudflare Company Profile

CloudFlare, Inc operates a cloud platform that delivers a range of network services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.

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Earnings History and Estimates for Cloudflare (NYSE:NET)

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