Cloudflare (NYSE:NET – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.140-0.140 for the period, compared to the consensus estimate of 0.130. The company issued revenue guidance of $393.5 million-$394.5 million, compared to the consensus revenue estimate of $393.5 million. Cloudflare also updated its FY 2024 guidance to 0.600-0.610 EPS.
Cloudflare Price Performance
Shares of NYSE:NET traded down $0.11 during midday trading on Monday, hitting $74.29. The company’s stock had a trading volume of 6,576,970 shares, compared to its average volume of 3,961,452. The business’s 50 day simple moving average is $93.67 and its 200 day simple moving average is $83.75. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market cap of $25.08 billion, a P/E ratio of -141.34 and a beta of 1.15. Cloudflare has a 12-month low of $44.60 and a 12-month high of $116.00.
Cloudflare (NYSE:NET – Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. On average, analysts forecast that Cloudflare will post -0.2 EPS for the current year.
Analyst Ratings Changes
Get Our Latest Stock Report on Cloudflare
Insider Buying and Selling
In related news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the completion of the transaction, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total value of $1,109,550.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares in the company, valued at $25,036,551.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the transaction, the director now owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The disclosure for this sale can be found here. Insiders sold 1,044,347 shares of company stock worth $101,703,776 over the last 90 days. 12.83% of the stock is owned by insiders.
About Cloudflare
Cloudflare, Inc operates as a cloud services provider that delivers a range of 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 IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.
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