Miscellaneous photography/iStock Editorial via Getty Images
cloud flare (New York Stock Exchange:NET) is scheduled to report its first-quarter earnings on Thursday, May 2, after the market closes.
Analysts expect a year-over-year increase in both top and bottom lines, with earnings per share of $0.13 on revenue of $373.3 million.
The cloud and security The company is expected to face tough revenue comparisons for the first quarter, but a favorable setup for the second quarter and the rest of the year.
Strong demand for the company's security offerings and a slew of deal activity are expected to boost Cloudflare's (NET) performance.
“Cloudflare's improved channel sentiment in 1Q'24 indicates a potential positive shift in its channel strategy and a strong pipeline for 2Q24, suggesting sustained growth,” analysts at investment firm Baird noted.
“We see many avenues for growth for the company with its best-in-class technology assets, unique global network and new use cases around ai,” brokerage firm Truist Securities said.
Over the past three months, the company's earnings per share estimates have been revised upward 14 times versus three downward revisions, while revenue estimates have seen 12 upward moves, compared with seven downward revisions. low.
Analysts looking at Alpha generally consider NET a hold. This compares to Wall Street's average rating of Hold and SA Quant rating of Strong Buy.
