Cloudflare (NYSE:NET) Releases FY 2020 After-Hours Earnings Guidance

Cloudflare (NYSE:NET) issued an update on its FY 2020
After-Hours earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.21–0.19 for the period, compared to the Thomson Reuters consensus estimate of $-0.2. The company issued revenue guidance of $389-393 million, compared to the consensus revenue estimate of $376.43 million.Cloudflare also updated its FY20 guidance to ($0.21)-($0.19) EPS.

Shares of NYSE:NET traded down $0.32 on Friday, reaching $17.75. 4,739,910 shares of the company’s stock were exchanged. Cloudflare has a fifty-two week low of $14.50 and a fifty-two week high of $22.08. The business has a 50-day simple moving average of $17.82.

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

A number of analysts recently weighed in on NET shares. Robert W. Baird started coverage on shares of Cloudflare in a report on Thursday, January 9th. They issued an outperform rating and a $22.00 price objective on the stock. Evercore ISI reaffirmed a buy rating and issued a $22.00 price objective on shares of Cloudflare in a report on Sunday. Piper Jaffray Companies started coverage on shares of Cloudflare in a report on Monday, November 4th. They issued an overweight rating and a $20.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of Cloudflare from $18.00 to $20.00 and gave the stock a hold rating in a report on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Cloudflare from a hold rating to a buy rating and set a $21.00 price objective on the stock in a report on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Cloudflare currently has an average rating of Buy and an average price target 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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