Cowen’s $ 250 Prize Goal

  • Shares of Cloudflare Inc (NYSE: NET) received a price target of $ 250 from Cowen. These are the details.

Shares of Cloudflare Inc (NYSE: NET) received a price target of $ 250 from Cowen. And Cowen analyst Shaul Eyal raised the price target to $ 200 while maintaining an “Outperform” rating on stocks.

Eyal noted that growing business adoption helped drive 51% revenue growth and enabled Cloudflare to meet key performance targets such as positive operating margins and earnings per share. of balance higher than previous expectations.

Cloudflare released its financial results for the third quarter of fiscal 2021 earlier this week. For the quarter, the company reported total revenue of $ 172.3 million, an increase of 51% year-over-year. GAAP gross profit was $ 134.8 million, or 78.2% gross margin, compared to $ 87.2 million, or 76.3%, in the third quarter of 2020. And non-GAAP gross profit was of $ 136.6 million, or 79.2% gross margin, compared to $ 88.2 million. , or 77.3%, in the third quarter of 2020.

The GAAP operating loss was $ 26.5 million, or 15.4% of total sales, compared to $ 21.3 million, or 18.6% of total sales, at third quarter of 2020. And non-GAAP operating income was $ 2.2 million, or 1.3% of total sales, compared to an operating loss of $ 4.5 million , or 4% of total revenue, in the third quarter of 2020.

The GAAP net loss was $ 107.3 million, compared to $ 26.5 million in the third quarter of 2020. And the GAAP net loss per basic and diluted share was $ 0.34, vs. $ 0.09 in the third quarter of 2020. Non-GAAP net income was $ 1.4 million. , compared to a non-GAAP net loss of $ 5.8 million in the third quarter of 2020. Diluted non-GAAP net income per share was $ 0.00, compared to a non-GAAP net loss per share of 0. 02 USD in the third quarter of 2020.

Free cash flow from operating activities was minus $ 6.9 million compared to $ 2 million for the third quarter of 2020. And free cash flow was minus $ 39.7 million , or 23% of total turnover, against 17.9 million less, or 16% of the total. turnover, in the third quarter of 2020.

Cash, cash equivalents and available-for-sale securities were $ 1.8139 billion as of September 30, 2021.

Disclaimer: This content is intended for informational purposes. Before you make an investment, you need to do your own analysis.

Ann J. Cox