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Cloudflare, Inc. - NET STOCK NEWS

Welcome to our dedicated page for Cloudflare news (Ticker: NET), a resource for investors and traders seeking the latest updates and insights on Cloudflare stock.

Cloudflare, Inc., trading under the symbol NET, is a leading provider of web performance and security solutions. Founded in San Francisco, California, Cloudflare operates a highly-available global network that ensures websites function faster, are more secure, and are smarter. Catering to millions of websites, including those of large enterprises, major consumer destinations, and government agencies, Cloudflare has established itself as a critical player in the web infrastructure market.

Cloudflare’s core services include a distributed, serverless content delivery network (CDN) which accelerates the delivery of web pages to users. The company's edge computing platform, Workers, allows clients to deploy and execute code without the need to maintain servers, thereby enhancing flexibility and reducing operational overhead. This platform supports various programming languages like Nginx, Go, and Lua, and is a testimony to Cloudflare’s commitment to leveraging cutting-edge technology.

The company’s network serves hundreds of billions of page views per month and can reach 90% of the world’s population in less than 0.23 seconds. Cloudflare is also known for its robust security measures, having successfully defended against some of the largest DDoS attacks ever recorded. This extensive reach and resiliency make it a trusted name in web security.

Furthermore, Cloudflare is a strong supporter of the open-source community, regularly sharing its technological advancements and learnings via its blog. With offices in San Francisco and London, the company is on a mission to build a better web. They are actively seeking talented individuals to join their team and contribute to this mission.

In recent developments, Cloudflare continues to innovate and expand its offerings, forging new partnerships and enhancing its service capabilities. As a publicly traded company, Cloudflare's financial health and market performance are closely watched by investors and analysts.

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Cloudflare (NYSE: NET) is set to announce its financial results for Q2 2024 on August 1, 2024, after the U.S. market closes. The company will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Participants can join the call via phone or through a live webcast on the Cloudflare investor relations website. A replay will be accessible two hours post-event for around 30 days.

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Cloudflare's latest State of Application Security 2024 Report highlights significant security challenges faced by organizations due to outdated security approaches and increasing online threats. The report notes a rise in distributed denial of service (DDoS) attacks, with DDoS comprising 37.1% of mitigated traffic, and mentions the largest DDoS attack in history. Zero-day vulnerabilities are being exploited faster than ever, with one case occurring just 22 minutes after proof-of-concept publication. Bad bots, making up 31.2% of traffic, predominantly pose threats, particularly to industries like Manufacturing, Cryptocurrency, and the US Federal Government. The reliance on third-party software introduces growing risks in supply chain security, with organizations using an average of 47.1 pieces of third-party code and making 49.6 outbound connections. The report is based on traffic patterns from April 1, 2023, to March 31, 2024, across Cloudflare's global network.

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Cloudflare's latest study, titled 'Shielding the Future: Europe's Cyber Threat Landscape Report,' reveals that 64% of European business leaders expect a cybersecurity incident in the next 12 months, but only 29% feel highly prepared. The study surveyed over 4,000 leaders across 13 European markets, uncovering a significant rise in the volume and frequency of attacks. While 40% of organizations experienced incidents in the last year, industries like IT & technology are better prepared compared to healthcare and education. Financial and reputational damages are substantial, with costs ranging from £788,000 to over £1.576 million per incident. Many businesses are adopting more cybersecurity products, but 72% believe this complexity hampers effectiveness. Furthermore, 58% are in early stages of adopting Zero Trust network access. Despite 54% of businesses expecting increased cybersecurity budgets, challenges remain, including funding, talent shortages, and evolving requirements.

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Cloudflare's Project Galileo celebrates its 10th anniversary, marking a decade of offering free DDoS protection to over 2,600 public interest organizations across 111 countries. The project handles around 96 million DDoS attacks daily, safeguarding entities such as human rights groups and independent journalists. Key highlights include mitigating nearly 32 billion cyber threats between May 2023 and March 2024 and notable attacks targeting organizations like Meduza and those related to the Israel-Hamas conflict. The initiative underscores Cloudflare's mission to support free expression online, with testimonials from various beneficiaries affirming its critical role in their operations.

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CrowdStrike and Cloudflare (NYSE: NET) announced an expanded strategic partnership aimed at enhancing cybersecurity from device to network. This alliance integrates Cloudflare's Zero Trust protection from Cloudflare One™ with CrowdStrike Falcon®'s AI-native cybersecurity platform. The collaboration aims to simplify vendor management, reduce costs, and operational complexity for global customers. This partnership targets the increasing sophistication of cyber threats, providing a robust, holistic security approach for organizations. The integration offers a single API for seamless security management, enhancing threat detection and response across endpoints, cloud, identity, data, and applications.

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Cloudflare, a leading connectivity cloud company, has acquired BastionZero to enhance its Cloudflare One platform by adding Zero Trust infrastructure access controls. This acquisition aims to bolster remote access security for critical IT systems, benefiting hybrid and remote work environments.

Cloudflare One will now include advanced Zero Trust controls for infrastructure such as servers, Kubernetes clusters, and databases. This move is intended to replace traditional VPN setups, which often grant overly permissive access, with more secure and flexible options. The integration promises increased security, compliance, control, and reduced complexity for IT teams.

This acquisition aligns with the growing demand for secure access service edge (SASE) solutions, a market projected to reach $25 billion by 2027 with a compound annual growth rate of 29%, according to Gartner. The addition of BastionZero is expected to strengthen Cloudflare's position in this rapidly growing market.

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Cloudflare, in collaboration with the U.S. Department of Treasury and Pacific Northwest National Laboratory, is providing advanced threat intelligence to financial institutions through a new partnership. This initiative aims to enhance cyber resilience in the financial services industry by offering a Custom Indicator Feed to combat ransomware, phishing, and other threats. The partnership will enable financial services organizations using Cloudflare Gateway to access exclusive threat indicators for better defense against cyberattacks.

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Cloudflare, Inc. (NYSE: NET) announced Cloudflare for Unified Risk Posture, a new suite of risk management solutions to identify, evaluate, and manage cyber threats. The offering includes partnerships with leading security providers to enhance threat remediation. This solution aims to simplify risk management for organizations across all attack vectors, internal and external, providing real-time threat assessment and control capabilities globally.

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Cloudflare, Inc. (NYSE: NET) reported strong first quarter financial results for 2024, with a 30% year-over-year revenue increase to $378.6 million. The company also achieved record net-new customers spending over $100,000, $500,000, and $1 million annually. Cloudflare's GAAP gross profit was $293.6 million, with a 77.5% margin, while non-GAAP income from operations reached $42.4 million. Operating cash flow was $73.6 million, and free cash flow was $35.6 million. Cloudflare's CEO, Matthew Prince, highlighted the company's growth, innovation, and customer expansion, emphasizing a positive outlook for the future.

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Cloudflare collaborates with Booz Allen Hamilton to provide expedited Under Attack as a Service (UAaaS) with 30-Day Rapid Response DDoS Mitigation. The partnership offers immediate Incident Response to enterprises facing cyber attacks, ensuring rapid protection and continuous monitoring. Cloudflare's industry-leading technology and Booz Allen's expertise combine to safeguard organizations during critical times of cyber threats.
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FAQ

What does Cloudflare, Inc. do?

Cloudflare provides web performance and security solutions through a global network, making websites faster, safer, and smarter.

Where is Cloudflare headquartered?

Cloudflare is headquartered in San Francisco, California, with additional offices in London.

What is Cloudflare's edge computing platform?

Cloudflare’s edge computing platform is called Workers. It allows clients to deploy and execute code without maintaining servers.

How fast is Cloudflare’s network?

Cloudflare’s network can reach 90% of the world’s population in less than 0.23 seconds.

What are some of Cloudflare’s significant achievements?

Cloudflare has defended against some of the largest DDoS attacks ever recorded and serves hundreds of billions of page views monthly.

Why is Cloudflare trusted for web security?

Cloudflare incorporates robust security measures at every layer of its global network, ensuring strong protection against cyber threats.

Is Cloudflare involved in the open-source community?

Yes, Cloudflare is a strong supporter of the open-source community and regularly shares its technological advancements via its blog.

What programming languages does Cloudflare use?

Cloudflare's team works with leading technologies including Nginx, Go, and Lua.

Can individuals join Cloudflare’s mission?

Yes, Cloudflare is always looking for smart, talented people to join their team in building a better web.

What is Cloudflare’s stock symbol?

Cloudflare, Inc. trades on the stock market under the symbol NET.

Cloudflare, Inc.

NYSE:NET

NET Rankings

NET Stock Data

26.73B
301.09M
0.63%
86.16%
2.36%
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SAN FRANCISCO