Cloudflare (NET 8.05%) operates the world's leading content delivery network (CDN) -- a distributed cloud platform that puts servers closer to where end users are, making data transfer faster, more secure, and more reliable for its clients and their customers. With servers in 330 locations across the globe, its estimated share of the CDN market exceeds 42%. As such, Cloudflare is in a solid position to make the most of an opportunity that's growing rapidly. Technology consulting firm SkyQuest estimates that ...

Cloudflare (NET) shares have gained 22.1% in the past six months, outperforming the Zacks Computer Technology sector, Zacks Internet Software industry and the S&P 500’s return of 8%, 10.6% and 10.3%, respectively. The outperformance reflects investors’ confidence in Cloudflare’s product enhancements with artificial intelligence (AI) capabilities and the potential positive impact on NET’s top line.For instance, the company recently upgraded its serverless AI platform, namely Workers AI, with enhanced graphic ...

Investment Rating - The report does not explicitly mention an investment rating for Cloudflare (NET US) [1] Core Viewpoints - Cloudflare is strategically positioning itself in the distributed computing network to meet the growing demand for AI inference [1] - The company is investing heavily in high-performance GPUs to enhance its Workers AI platform, which offers better performance and ROI compared to hyperscale public clouds [3] - Cloudflare has signed a $7 million annual contract with a fast-growing AI company to shift AI inference workloads to its platform [3] Financial Performance - Q3 2024 revenue reached $430 million, a 28% YoY increase, with direct customers contributing 79% ($341 million) and channel partners contributing 21% ($89 million) [1] - Non-GAAP gross margin was 78 8%, slightly above the long-term target range of 75%-77% and higher than the previous year's 78 7% [1] - Non-GAAP operating margin was 14 8%, with operating income of $63 5 million [1] - Free cash flow for the quarter was $45 3 million, exceeding market expectations [1] - The company added 219 new large customers with annualized payments exceeding $100,000, bringing the total to 3,265, a 28% YoY increase [1] - 35% of Fortune 500 companies are now Cloudflare's paying customers [1] - Revenue contribution from large customers remained stable at 67%, with a dollar-based net retention rate of 110%, down 2 percentage points QoQ [1] Strategic Initiatives - Cloudflare is shifting towards more pooled funding deals with its largest customers, accounting for nearly 10% of new ACV this quarter [1] - The company is upgrading its Workers AI platform to improve AI inference performance and expanding its GPU network across 180+ cities [3] Q4 2024 Guidance - Expected Q4 2024 revenue is projected to be between $451-$452 million, a 25% YoY increase [5] - Adjusted operating income for Q4 2024 is expected to be between $57-$58 million [5] - Full-year 2024 revenue is projected to be between $1 661-$1 662 billion, a 28% YoY increase [5] - Full-year 2024 adjusted operating income is expected to be between $220-$221 million [5] Market Data - Cloudflare's stock price is $90 91, with a market cap of $31 2 billion [2] - The company has 343 million shares outstanding [2] - The 52-week high/low is $116 00/$62 39 [2] - Net asset value per share is $2 84 [2]

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Cloudflare Inc. NET just flashed a Golden Cross—a classic bullish signal that has technical traders buzzing. Chart created using Benzinga ProCloudflare stock's 50-day moving average has crossed above the 200-day simple moving average (SMA), hinting at potential longer-term strength. At $90.91, Cloudflare stock is above key support levels, including its eight-day and 20-day SMAs of $90.66 and $89.90, respectively. This suggests strong momentum even as some selling pressure occasionally tests its resolve.Read ...

Cloudflare’s NYSE: NET biggest problem in 2024 is its stock price valuation. Trading well over 100X earnings, the market is pricing in significant growth, implying a 4X gain in earnings, but the concerns will disappear in 2025. The company continues to build leverage despite macroeconomic headwinds, and headwinds are expected to revert to tailwinds in 2025, so it will likely grow earnings faster than expected over the longer term. As it is, the analysts' consensus outlook is robust and forecasts adjusted EP ...

Mark leads the investing group Out Fox The Street where he shares stock picks and deep research to help readers uncover potential multibaggers while managing portfolio risk via diversification. Features include various model portfolios, stock picks with identifiable catalysts, daily updates, real-time alerts, and access to community chat and direct chat with Mark for questions. Learn moreAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no ...

The stock of Cloudflare, Inc. (NYSE: NET ), one of the notable cloud service & cybersecurity providers around, hasn't had the most dazzling of years. Since May, it has lagged its peers from the Nasdaq and the cloud computing terrains, and is currently Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not rec ...

I recently joined The REIT Forum and if you are looking for more investment ideas like this one, get them exclusively at The REIT Forum with access to our subscriber only portfolios.I last wrote about Cloudflare (NYSE: NET ) in September, where I reiterated my "buy" rating for a second time. My "buy" rating was predicated on my belief that Cloudflare was demonstrating significant progress in moving upmarket, with a growingAmrita runs a boutique family office fund in beautiful Vancouver, where she leads the ...

Cloudflare (NET) reported third-quarter 2024 non-GAAP earnings of 20 cents per share, which beat the Zacks Consensus Estimate by 11.11%. The bottom line increased 29.4% year over year.NET’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 25.5%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.NET’s third-quarter revenues of $430.1 million surpassed the consensus mark by 1.52%. The year-over-year increase of 28.2% in reven ...