Cloudflare (NET) Scheduled to Post Quarterly Earnings on Thursday

Cloudflare (NYSE:NET - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, August 1st. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Cloudflare has set its Q2 guidance at $0.14 EPS and its FY24 guidance at $0.60-0.61 EPS.Parties that are interested in registering for the company's conference call can do so using this link.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. On average, analysts expect Cloudflare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cloudflare Trading Up 2.7 %

Cloudflare stock traded up $2.07 during midday trading on Thursday, hitting $78.07. 2,448,728 shares of the stock were exchanged, compared to its average volume of 3,577,799. The company has a fifty day simple moving average of $77.47 and a two-hundred day simple moving average of $85.35. Cloudflare has a 52 week low of $53.88 and a 52 week high of $116.00. The stock has a market capitalization of $26.53 billion, a PE ratio of -147.25 and a beta of 1.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Wall Street Analysts Forecast Growth

NET has been the topic of several research analyst reports. Scotiabank initiated coverage on shares of Cloudflare in a report on Monday, July 8th. They set a "sector perform" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of Cloudflare from $90.00 to $80.00 and set a "neutral" rating on the stock in a report on Friday, May 3rd. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Morgan Stanley restated an "equal weight" rating and set a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. Finally, Mizuho lifted their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $90.92.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.67, for a total transaction of $3,911,513.28. Following the transaction, the chief executive officer now directly owns 230,612 shares of the company's stock, valued at approximately $17,219,798.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.67, for a total value of $3,911,513.28. Following the transaction, the chief executive officer now directly owns 230,612 shares of the company's stock, valued at approximately $17,219,798.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 102,580 shares of Cloudflare stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares in the company, valued at $17,444,232.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 714,232 shares of company stock valued at $55,423,126. Corporate insiders own 12.83% of the company's stock.

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.