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CloudFlare, Inc. (NET) operates as a cloud services provider that delivers a range of services to businesses worldwide. 
The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, secure origin connection, and rate limiting products.
It also offers website and application performance solutions, including content delivery, load balancing, DNS, agro smart routing, video stream delivery, content optimization, virtual backbone, always online, and cloudflare waiting room and registrar; and network services, which deliver network connectivity, security, and performance to customers as a service, including WAN, WARP, magic transit, magic firewall, cloudflare network interconnect, and spectrum.
In addition, the company provides zero trust services, such as cloudflare access, cloudflare gateway, remote browser isolation, cloud access security broker, cloudflare area 1 email security, and data loss prevention products that protect, inspect, and privilege data.
On April 27th, the company said it expects second quarter non-GAAP earnings of $0.07 to $0.08 per share on revenue of $305.0 million to $306.0 million. The current consensus earnings estimate is $0.03 per share on revenue of $319.70 million for the quarter ending June 30, 2023. The company also said it now expects 2023 non-GAAP earnings of $0.34 to $0.35 per share on revenue of $1.280 billion to $1.284 billion. The company's previous guidance was earnings of $0.15 to $0.16 per share on revenue of $1.330 billion to $1.342 billion.
Entry Point: $67.00
Stop Loss: $63.50
Trading Range: $37.37 to $80.99
Target Price: $73.70
NET closed at $73.80
