On November 11, Cloudflare, Inc. saw an Intraday Rise of 4.32% in Regular Trading, trading at $313.23 per share, with turnover of $114 million.
The move was supported by continued market reaction to the company’s latest quarterly results, which beat expectations and were accompanied by stronger-than-expected fourth-quarter and full-year guidance.
Cloudflare, Inc. reported third-quarter adjusted EPS of $0.38, above the $0.34 consensus, while revenue reached $782.5 million, up 39% year over year and ahead of expectations near $737 million. The company guided fourth-quarter revenue to $845 million-$846 million, above the roughly $796.2 million market forecast, and raised full-year adjusted EPS guidance to $1.35 versus expectations of $1.26. Recent coverage also noted that some analysts trimmed price targets after the results, but maintained constructive ratings, indicating the earnings strength remained the dominant near-term driver.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)