Cloudflare (NET) Tops Q1 EPS by 3c, Offers Guidance
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Cloudflare Inc. (NET) PT Lowered to $76 at UBS
May 3, 2024 7:05 AM EDTUBS 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
May 3, 2024 6:56 AM EDTCantor 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
May 2, 2024 4:42 PM EDT(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
