First-quarter revenues increased 51% from $ 91.3 million in the previous year to $ 138.1 million, surpassing FactSet analyst consensus of $ 131 million.
Cloudflare shares recently traded at $ 73.09, up 5.8%. They traded as much as 13% on Friday for $ 78.22. And it has increased by 15% in the last 6 months.
As for analysts, Morgan Stanley’s Keith Weiss has an equal weight rating, raising his share price target from $ 88 to $ 91.
“The combination of improved market dynamics and continued solid execution has accelerated the addition of large customers, surged NDRR, and increased billing by 56% year-on-year,” he commented. writing.
“In conclusion, Cloudflare flywheels are gaining momentum, and the expansion of our solution portfolio enables us to monetize that momentum strongly.”
JP Morgan analyst Sterling Autory also has a neutral valuation of equities. He lowered the target price from $ 91 to $ 86, but still provided some positive comments.
“Cloudflare is one of the few high-growth software stocks that was able to sustain growth in the next quarter, with a 51% increase compared to 50% in the previous quarter,” he writes.
“This is due to the expansion of our product portfolio and the steady movement of the market as the solution gains trust in companies of all sizes.”
In other cloud news, Christine Yen, CEO of data analytics firm Honeycomb, Last month we talked with .com about the cloud.
And Dell Technologies (((Dell)- Get the report Said on monday Selling Boomi cloud business to private equity fund Francisco Partners and TPG for $ 4 billion in cash.
Cloudflare Analysts Laud Revenue Gain, Strategy Execution Source link Cloudflare Analysts Laud Revenue Gain, Strategy Execution