Cloudflare (NYSE:NET) Releases FY20 Earnings Guidance

Cloudflare (NYSE:NET) issued an update on its FY20 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 ($0.20). The company issued revenue guidance of $389-393 million, compared to the consensus revenue estimate of $376.19 million.Cloudflare also updated its FY 2020
After-Hours guidance to -0.21–0.19 EPS.

Shares of NET stock traded up $0.25 during mid-day trading on Thursday, reaching $18.07. The company’s stock had a trading volume of 1,713,685 shares, compared to its average volume of 805,185. The firm’s 50 day moving average is $17.81. Cloudflare has a 12-month low of $14.50 and a 12-month high of $22.08. The company has a current ratio of 9.02, a quick ratio of 9.02 and a debt-to-equity ratio of 0.01.

A number of equities research analysts recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Cloudflare in a report on Thursday, January 9th. They set an outperform rating and a $22.00 price target for the company. Piper Jaffray Companies assumed coverage on shares of Cloudflare in a report on Monday, November 4th. They set an overweight rating and a $20.00 price target for the company. Finally, Zacks Investment Research raised shares of Cloudflare from a hold rating to a buy rating and set a $21.00 price target for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $20.96.

About Cloudflare

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.

Further Reading: Shanghai Stock Exchange Composite Index

Earnings History and Estimates for Cloudflare (NYSE:NET)

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