Cloudflare Guides Q3 Revenue to $129M-$130M, Topping Estimates
NET has more than doubled off its 52-week low of $158.83.
Summary
Cloudflare issued Q3 revenue guidance of $129M-$130M, above the consensus estimate of $128.5M. The company lifted its outlook on 2Q revenue growth, despite a wider loss. The company is trading near its 52-week high of $305, reflecting strong momentum. This follows a 34% revenue growth quarter and a major capital structure overhaul approved in June. The guidance beat signals continued demand strength in its core network services and AI-native web expansion. Insider selling has been heavy, with over $200M in recent months, but the guidance may offset those concerns.
At the time of this announcement, NET was trading at $326.80 on NYSE in the Technology sector, with a market capitalization of approximately $101B. The 52-week trading range was $158.83 to $305.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.