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

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 Inc. (NET) PT Lowered to $88 at Mizuho

(Updated - May 3, 2024 6:49 AM EDT)

Mizuho analyst Gregg Moskowitz lowered the price target on Cloudflare Inc. (NYSE: NET) to $88.00 (from $95.00) while maintaining a Neutral rating.

The analyst commented: "In our earnings preview, we had stated that business appeared... More

Cloudflare Inc. (NET) PT Lowered to $110 at TD Cowen

(Updated - May 3, 2024 6:31 AM EDT)

TD Cowen analyst Shaul Eyal lowered the price target on Cloudflare Inc. (NYSE: NET) to $110.00 (from $117.00) while maintaining a Buy rating.

The analyst commented: "NET delivered a solid 1Q24, headlined by 30% rev growth and driven by large... More

Cloudflare Inc. (NET) PT Lowered to $94 at Baird

Baird analyst Shrenik Kothari lowered the price target on Cloudflare Inc. (NYSE: NET) to $94.00 (from $100.00) while maintaining a Outperform rating.... More

Cybersecurity stocks in the red following Fortinet, Cloudflare results

Shares in major cybersecurity services providers tumbled in Friday premarket trading after sector names Fortinet (NASDAQ: FTNT) and Cloudflare (NYSE:NYSE: NET) reported results.

Their shares are down 6.6% and 15.1%, respectively.

Fortinet reported adjusted earnings per share (EPS) of $0.43, which was $0.05 higher than analyst expectations. The company's total revenue for the quarter was $1.35 billion, marking a 7% year-over-year increase and exceeding the consensus estimate of $1.34 billion.

Stocks expected to have increasing option volume: NET LYV DKNG ILMN EXPE TXRH PCTY FIVN BJRI HSY CBOE RKT

Stocks expected to have increasing option volume: NET LYV DKNG ILMN EXPE TXRH PCTY FIVN BJRI HSY CBOE RKT

Cloudflare Inc. (NET) PT Lowered to $94 at KeyBanc

(Updated - May 3, 2024 10:25 AM EDT)

KeyBanc analyst Thomas Blakey lowered the price target on Cloudflare Inc. (NYSE: NET) to $94.00 (from $132.00) while maintaining a Overweight rating.

The analyst commented, "We reiterate our OW rating on NET shares post a 1Q24 beat (+1.4% top line, partially driven by the leap year) and in-line guide, which Cloudflare... More

Cloudflare Inc. (NET) PT Raised to $60 at BofA Securities

BofA Securities analyst Madeline Brooks raised the price target on Cloudflare Inc. (NYSE: NET) to $60.00 (from $52.00) while maintaining a Underperform rating.... More

After-hours movers: Apple, Block, Coinbase, Booking and more

After-Hours Stock Movers:

Apple (NASDAQ: AAPL) rose 6.8% after it published EPS and revenue that topped consensus. It also boosted its divided and approved an additional share buyback of $110 billion.

Block (NYSE: SQ) rose... 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

Cloudflare (NET) May weekly option implied volatility into quarter results

Cloudflare (NYSE: NET) May weekly call option implied volatility is at 342, May is at 106; compared to its 52-week range of 40 to 80 into the expected release of quarter results today after the bell.