30.05 +0.02 (0.07%)
After hours: 4:43PM EDT
|Bid||30.00 x 900|
|Ask||30.09 x 900|
|Day's Range||29.01 - 30.19|
|52 Week Range||14.50 - 30.78|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 05, 2020 - Aug 08, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.12|
When it comes to investing in small up-and-coming businesses, picking just one or two usually won't suffice. For my latest batch of purchases in the wake of the coronavirus-fueled economic crisis, I scooped up shares of Livongo Health (NASDAQ: LVGO), Cloudflare (NYSE: NET), Fastly (NYSE: FSLY), Repay Holdings (NASDAQ: RPAY), and VectoIQ Acquisition (NASDAQ: VTIQ) (set to become Nikola). A few years ago, I purchased a tiny but up-and-coming stock called Teladoc Health, thinking that medical care delivered via an internet connection had a bright future.
Roku reports seeing major viewing growth for ad-supported news and entertainment content, and PayPal suggests its remittance business is hitting an inflection point.
Cloudflare, Inc. ("Cloudflare") (NYSE: NET) today announced the pricing of $500 million aggregate principal amount of Convertible Senior Notes due 2025 (the "notes") in a private offering (the "offering") to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Cloudflare also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on May 15, 2020, subject to customary closing conditions, and is expected to result in approximately $488.2 million in net proceeds to Cloudflare after deducting the initial purchasers’ discount and estimated offering expenses payable by Cloudflare (assuming no exercise of the initial purchasers’ option to purchase additional notes).
The U.S. death toll from the coronavirus that causes COVID-19 climbed above 81,000 on Tuesday, as President Donald Trump, defending his record on testing in the U.S., ended his White House news conference abruptly following an angry exchange with two reporters.
Cloudflare Inc. said Tuesday it is offering $500 million of convertible senior notes that mature in 2025 in a private offering. Proceeds will be used to cover the cost of capped call transactions that aim to reduce the dilution of shares upon conversion, as well as for general corporate purposes. The notes will be convertible into cash, shares of class A common stocks or a combination of the two. Shares were up 1.5% premarket and have gained 65% in the year to date, while the S&P 500 has fallen 9%.
Cloudflare, Inc. ("Cloudflare") (NYSE: NET) today announced its intention to offer, subject to market conditions and other factors, $500 million aggregate principal amount of Convertible Senior Notes due 2025 (the "notes") in a private offering (the "offering") to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Cloudflare also expects to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the notes.
May.10 -- Matthew Prince, co-founder and chief executive officer of San Francisco-based software maker Cloudflare Inc., which provides services such as firewalls, network routing and traffic management that allow cloud-based sites to operate more effectively, discusses how the coronavirus outbreak is affecting demand for its products and services. He also talks about the deal with a unit of China's JD.com with Selina Wang and Rishaad Salamat on "Bloomberg Markets: China Open."
To be sure, some bumps in the road could lie ahead for Cloudflare, but this disruptive computing outfit is in great financial shape and poised for years of growth once the dust begins to settle. In keeping with its near-50% year-over-year growth in 2019, Cloudflare started 2020 in similar fashion. The cloud security and web service outfit added 250,000 more individuals and small businesses to its funnel in the quarter (finishing the first quarter with 2.8 million total) and landed numerous new deals worth at least $100,000 per year.
(Bloomberg) -- Cloudflare Inc. reported a bigger quarterly loss on Thursday, sending shares of the software maker down 12% in extended trading.The net loss was $32.7 million in the first quarter, compared with a loss of $17.1 million a year earlier, the San Francisco-based company said Thursday in a statement. Revenue jumped 48% to $91 million, while operating expenses surged 65%. The company lost 4 cents a share, excluding some items.Cloudflare projected sales of as much as $94.5 million in the period that ends June 30, and an adjusted loss of as much as 6 cents a share. The company reaffirmed its annual 2020 guidance of as much as $393 million in revenue.Chief Executive Officer Matthew Prince says he’s building “a better internet” with Cloudflare tools that help websites with security, video streaming and traffic management. He became a billionaire on paper earlier Thursday when Cloudflare shares jumped 18% before the quarterly results.Read more: Cloudflare CEO Now a Billionaire on Stay-at-Home Streaming Surge“Our scalable global network is solving digital transformation needs for our customers in hours or minutes, faster than hardware could even ship to vacant offices,” Prince said in the statement.Shares fell to a low of $25.30 in extended trading, after closing at $29.52 in New York. The stock has climbed 73% this year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Cloudflare Inc. shares ceded ground from Thursday's big gains in the extended session after the cybersecurity company reported quarterly results and an outlook that topped Wall Street estimates. Cloudflare shares fell 12% after hours, following a 18% surge in the regular session to close at $29.52. The company reported a first-quarter loss of $32.7 million, or 11 cents a share, compared with $17.1 million, or 20 cents a share, in the year-ago period. The adjusted loss was 4 cents a share, compared with 19 cents a share in the year-ago period. Revenue rose to $91.3 million from $61.7 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 6 cents a share on revenue of $87 million. Cloudflare expects an adjusted loss of 6 cents to 5 cents a share on revenue of $93.5 million to $94.5 million in the second quarter, and a loss of 21 cents to 19 cents a share on revenue of $389 million to $393 million for the year. Analysts had forecast a loss of 5 cents a share on revenue of $92 million for the second quarter, and a loss of 20 cents a share on revenue of $385.7 million for the year.
Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced financial results for its first quarter ended March 31, 2020.
The cloud-based network security specialist should benefit from COVID-19 lockdowns and work-from-home practices, based on fantastic reports from several of its sector peers.
(Bloomberg) -- Cloudflare Inc. Chief Executive Officer Matthew Prince became a billionaire Thursday as the stock climbed to a record hours before the company’s scheduled earnings report.Shares of the San Francisco-based firm advanced 14% to $28.52 at 1 p.m. in New York, giving Prince a net worth of $1.08 billion, according to the Bloomberg Billionaires Index.“Cloudflare has been aided by the surge in streaming, gaming and e-commerce as people stay at home,” said Bloomberg Intelligence analyst Mandeep Singh.The firm, whose stock has soared about 90% since its September initial public offering, provides services such as firewalls, network routing and traffic management that allow cloud-based sites to operate more effectively. Prince, who helped launch Cloudflare in 2009, owns about 12.5% of the company, according to its latest proxy filing. Co-founder and Chief Operating Officer Michelle Zatlyn controls a 4.8% stake.Cloudflare spokeswoman Daniella Vallurupalli didn’t immediately reply to phone and email messages seeking comment.Daily StormerIn previous filings, the company acknowledged that it faced risks of adverse publicity from the use of its network by 8chan, a website favored by white supremacists and used by gunmen before mass shootings last year in El Paso, Texas and Christchurch, New Zealand. It also cited the use of its services by neo-Nazi website the Daily Stormer around the time of the 2017 protests in Charlottesville, Virginia. Cloudflare eventually ceased providing services to those outlets.Prince joins a growing list of tech entrepreneurs whose fortunes have surged on pandemic-induced increases in demand for services. They include Amazon.com Inc. founder Jeff Bezos, the world’s richest person, Netflix Inc.’s Reed Hastings and Zoom Video Communications Inc.’s Eric Yuan, whose net worth has more than doubled this year to about $7.8 billion.After U.S. markets close Thursday, Cloudflare is expected to report first-quarter revenue of $87 million, a 41% increase from a year earlier, according to the average estimate of analysts in a Bloomberg survey.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Cloudflare's (NET) first-quarter results are likely to reflect its recurring subscription-based business model and a diversified customer base despite the coronavirus chaos.
Kentik®, provider of the only AIOps platform specifically for network professionals, today announced a partnership with Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet. The collaboration integrates network traffic intelligence from Kentik with Cloudflare Magic Transit for fast mitigation of distributed denial-of-service (DDoS) attacks.
JD.com (NASDAQ: JD), China's largest direct retailer and second-largest e-commerce company, recently partnered with Cloudflare (NYSE: NET) to strengthen its cloud and AI business. Cloudflare, which secures internet traffic between clients and servers, entered the Chinese market in 2015 and currently operates in over 90 countries and 200 cities worldwide. It runs data centers in 17 Chinese cities and maintains a long-standing partnership with online search leader Baidu (NASDAQ: BIDU).
Cloudflare (NYSE: NET), the company with a mission to help build a better Internet, and JD Cloud & AI, the intelligent technology provider of JD.com, China’s largest retailer, today announced a strategic partnership to provide a faster and more secure Internet for global companies doing business in China, and for Chinese businesses reaching consumers globally. This collaboration joins Cloudflare’s integrated global cloud platform with JD Cloud & AI’s extensive China network, infrastructure, and services—offering a seamless experience for businesses looking to reach global audiences.
Zoom trades at 45 times this year’s sales estimates. Here are ways to play our new stay-at-home economy—at a far lower multiples of sales.
Sequoia Capital had by far the most partners on the list this year, accounting for 10 of the top 100. Andreessen Horowitz was next with six.
Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced that it will report its financial results for the first quarter ended March 31, 2020 after the U.S. market closes on Thursday, May 7, 2020.