On November 11, Cloudflare, Inc. recorded an Overnight rise of 3.01%, trading at $315.0 per share, with turnover of $1.8505 million.
The move appears tied to continued digestion of the company’s latest quarterly results, which came in above expectations and included stronger fourth-quarter and full-year guidance.
For the third quarter, adjusted EPS was $0.38 versus the $0.34 consensus, while revenue reached $782.5 million, up 39% year over year and above market expectations near $737 million. The company guided fourth-quarter revenue to $845 million-$846 million, ahead of expectations around $796.2 million, and raised full-year adjusted EPS guidance to $1.35 from a consensus near $1.26. While at least one analyst reduced its price target after the release, the reported beat-and-raise remained the clearest catalyst supporting the stock.
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