Cloud Stock Eyes Best Day in Months on Beat-and-Raise

IT leader Cloudflare Inc (NYSE:NET) is moving 3.2% higher to trade at $76.74 this morning, after the company posted better-than-expected second-quarter results and raised its full-year outlook. The equity now expects earnings between 70 and 71 cents per share, with a 2024 profit of 61 cents per share. On the charts, while the shares have struggled over the past few months, they remain 18% higher year over year, with support below at the 320-day moving average. Today, Cloudflare stock is on track for its bes ...