Cloudflare (NYSE:NET) Releases FY 2021 Earnings Guidance

Cloudflare (NYSE:NET) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.060-$-0.050 for the period, compared to the Thomson Reuters consensus estimate of $-0.120. The company issued revenue guidance of $647 million-$648 million, compared to the consensus revenue estimate of $631.81 million.Cloudflare also updated its Q4 2021 guidance to $-0.010-$0.000 EPS.

NYSE NET traded up $12.74 on Thursday, hitting $197.39. 3,945,267 shares of the stock were exchanged, compared to its average volume of 3,863,304. Cloudflare has a 52-week low of $60.96 and a 52-week high of $221.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 8.51 and a quick ratio of 5.72. The company has a market capitalization of $63.51 billion, a price-to-earnings ratio of -281.98 and a beta of 0.61. The company’s 50-day moving average price is $167.66 and its two-hundred day moving average price is $127.16.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Cloudflare had a negative return on equity of 13.32% and a negative net margin of 36.83%. The firm had revenue of $172.35 million for the quarter, compared to analysts’ expectations of $165.65 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company’s revenue for the quarter was up 51.0% on a year-over-year basis. Equities analysts predict that Cloudflare will post -0.49 EPS for the current fiscal year.

Several equities analysts have recently commented on the stock. Oppenheimer cut shares of Cloudflare from an outperform rating to a market perform rating in a report on Friday, September 24th. Zacks Investment Research upgraded shares of Cloudflare from a sell rating to a hold rating in a report on Tuesday, November 16th. Mizuho upped their price objective on shares of Cloudflare from $140.00 to $190.00 and gave the stock a neutral rating in a report on Friday, November 5th. They noted that the move was a valuation call. Truist upped their price objective on shares of Cloudflare from $130.00 to $185.00 and gave the stock a buy rating in a report on Monday, October 25th. Finally, Needham & Company LLC upped their price objective on shares of Cloudflare from $140.00 to $245.00 and gave the stock a buy rating in a report on Friday, November 5th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of $155.71.

In other Cloudflare news, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 23rd. The shares were sold at an average price of $183.68, for a total transaction of $3,673,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul D. Underwood sold 2,000 shares of the company’s stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $125.70, for a total transaction of $251,400.00. The disclosure for this sale can be found here. Insiders have sold 792,515 shares of company stock valued at $125,275,463 in the last ninety days. 20.69% of the stock is owned by company insiders.

An institutional investor recently bought a new position in Cloudflare stock. Millennium Management LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,139 shares of the company’s stock, valued at approximately $2,043,000. 66.94% of the stock is currently owned by institutional investors and hedge funds.

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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