Cloudflare Inc Stock Price, News & Analysis

Cloudflare, Inc. (NYSE: NET) has acquired Zaraz, a company specializing in optimizing website performance and security by managing third-party tools. This marks Cloudflare's first acquisition of a company built on its developer platform, Cloudflare Workers. The transaction aims to enhance website speed and protect user privacy by reducing the reliance on multiple third-party services. Both companies express excitement about the potential for innovation and performance improvements in the digital space.

Cloudflare has launched the Oahu Program to assist organizations in migrating from traditional firewalls to its Zero Trust firewall solution. This initiative provides resources, capabilities, and potential discounts to streamline the transition. The cloud-native firewall allows CIOs to secure their networks without the complexities of hardware systems, supporting traffic from diverse sources. The company reported significant growth, with customers doubling year-over-year and daily traffic peaking at over 1.69Tbps. This advancement positions Cloudflare as a key player in network security.

Cloudflare (NYSE: NET) has surpassed two million applications on its platform, unveiling new tools and integrations aimed at simplifying application development. The company introduces features that enhance data management for developers, including Durable Objects, partnerships with MongoDB and Prisma, and new database connectors. These innovations are designed to streamline the use of existing databases and enhance the capabilities of Cloudflare Workers, enabling developers to build complex applications more efficiently.

Cloudflare, Inc. (NYSE: NET) announced that Oracle has joined the Bandwidth Alliance, an initiative aimed at eliminating unnecessary data transfer fees across the industry. This partnership enables customers using both Cloudflare and Oracle's services to avoid high data transfer costs. With 19 members now, the Bandwidth Alliance facilitates significant savings for shared customers. Oracle already offers competitive pricing for data transfers, allowing zero egress for data sourced from its Cloud Infrastructure, and aims to expand this globally.

Cloudflare reported a remarkable 51% revenue growth in Q3 2021, totaling $172.3 million. The company achieved a record addition of approximately 170 large customers, raising the total to 1,260, a 71% increase year-over-year. Despite a GAAP net loss of $107.3 million, Cloudflare reached non-GAAP break-even net income of $1.4 million, ahead of its timeline. GAAP gross profit margins improved to 78.2%, demonstrating robust operational efficiency.

Cloudflare (NYSE: NET) has been recognized as a leader in the Forrester New Wave™: Edge Development Platforms, Q4 2021 report. The company’s Cloudflare Workers Developer Platform received high marks in eight criteria, including developer experience and global deployment speed. CEO Matthew Prince highlighted the platform's potential for empowering developers to build scalable applications quickly. Cloudflare Workers offers instant global code deployment, robust security features, and seamless integration with various tools, all enhancing its appeal for developers worldwide.

Cloudflare (NYSE: NET) released a study revealing significant shifts in cybersecurity trends in the Asia Pacific region. In 2021, 54% of organizations reported an increase in cyber attacks compared to 2020. The rise in incidents forced 83% of IT leaders to revise their security procedures, with 44% attributing changes to remote work challenges. Additionally, 86% are aware of Zero Trust security models, and 66% have already implemented them. However, 67% face execution risks due to a lack of internal IT security expertise.

Cloudflare (NYSE: NET) announces a partnership with Microsoft, Yandex, and other search engines to enhance search efficiency through the IndexNow initiative. This collaboration introduces Crawler Hints, enabling website owners to signal when content is created, updated, or deleted, thus optimizing crawler efficiency. Approximately 45% of Internet traffic is generated by bots, and this initiative aims to improve site performance while reducing unnecessary bot traffic. Cloudflare customers can opt-in for this feature at no cost, enhancing their online presence.

Cloudflare, Inc. (NYSE: NET) will report its Q3 financial results for the period ending September 30, 2021 after market close on November 4, 2021.

The company will host an investor call on the same day at 2:00 p.m. PT to discuss the results. Investors can participate by calling (888) 330-2022 within the U.S. or (646) 960-0690 internationally, using conference ID 9501812. A live webcast will also be available on the company's website.