From Nasdaq: 2024-05-01 12:27:00

Cloudflare (NET) is set to announce first-quarter 2024 results on May 2, with projected revenues of $372.5-$373.5 million. The company expects non-GAAP EPS of 13 cents, with strong year-over-year growth. Cloudflare’s diversified clientele and global expansion are likely to boost its performance in the upcoming quarter.

The company’s first-quarter success may be attributed to the shift to zero-trust cybersecurity solutions and hybrid work trends. Cloudflare saw significant revenue growth outside the US in Q4 2023, with a rise in paying customers and large client acquisitions. The subscription-based model provides stability but SME exposure may impact Q1 performance.

Cloudflare’s earnings surprise history is impressive, but the current Earnings ESP is 0.00% with a Rank #3. Analysts suggest Arista Networks, Docebo, and Apple as stocks to watch for potential earnings beats. Not all may succeed, but the picks remain promising for investors seeking substantial growth opportunities in 2024.

The upcoming earnings announcements by Arista Networks, Docebo, and Apple are anticipated with earnings ESP insights, Zacks Rank details, and stock performance year to date. Each company offers a unique investment opportunity based on factors like earnings surprise predictions, market trends, and growth potential moving forward. Don’t miss the chance to stay informed and act on potential market opportunities.



Read more at Nasdaq: Cloudflare (NET) to Report Q1 Earnings: What’s in Store?