Key Highlights:
- Cloudflare (NET, Financial) experienced a 5% boost in after-hours trading following its mixed Q1 results.
- While revenue exceeded expectations, earnings fell short at $0.16 per share.
- Wall Street remains optimistic, forecasting a potential 14.61% upside from current levels.
Cloudflare (NET) reported a robust 5% increase in after-hours trading due to its mixed first-quarter results, which concluded on March 31. The tech company achieved adjusted earnings of $0.16 per share, supported by a revenue milestone of $479.1 million. While revenue surpassed expectations, earnings slightly missed analysts' predictions. Looking ahead to Q2, Cloudflare anticipates adjusted earnings of $0.18 per share with revenue projections reaching $501 million.
Wall Street Analysts' Outlook
According to projections from 28 seasoned analysts, the average price target for Cloudflare Inc (NET, Financial) stands at $142.47. This estimate spans from a high of $200.00 to a low of $68.00, highlighting potential market volatility. The average target suggests a promising 14.61% upside from the current share price of $124.31. For a deeper dive into these projections, visit our Cloudflare Inc (NET) Forecast page.
The consensus recommendation from 34 brokerage firms ranks Cloudflare Inc (NET, Financial) with an average brokerage recommendation of 2.4, indicating an "Outperform" status. This rating is on a scale where 1 represents a Strong Buy and 5 denotes a Sell, reflecting general optimism in the company's future performance.
In line with GuruFocus estimates, the calculated GF Value of Cloudflare Inc (NET, Financial) over the next year is predicted to be $140.97. This value suggests a 13.4% upside from the current stock price of $124.31. The GF Value is a crucial metric representing the fair value at which the stock should ideally be trading. It is derived from historical trading multiples, past business growth, and forward-looking performance estimates. Investors seeking more comprehensive data can explore the Cloudflare Inc (NET) Summary page.
