Will CloudFlare's Q3 surprise investors?
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CloudFlare (NET) is scheduled to announce Q3 earnings results on Wednesday, November 2nd, after market close.
The consensus EPS Estimate is $0.00 and the consensus Revenue Estimate is $249.8M (+45.0% Y/Y).
Post Q2 reports, stock surged a whopping 26% on strong guidance as the company said it expects 2022 sales to be between $968M and $972M, up from a prior outlook of $955M-$959M.
Company has likely improved its global footprint with expansion outside USA. Company added 212 new large customers with annual billings of more than $100,000. The uptrend has been prevailing since the past few quarters.
Over the last 2 years, NET has beaten EPS estimates 88% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 2 upward revisions and 11 downward. Revenue estimates have seen 15 upward revisions and 1 downward.
Ratings and commentary: Stock has a SA Authors' rating of Buy with commentary that says: 'Cloudflare: Still Trading At Bubble Valuations - Minimal Profitability Ahead', 'Cloudflare is an investment on the growth of the internet or more specifically, a faster internet'
Sell side rating of Buy with target price of $82.71; Quant rating of Hold with highest grades given to growth.
Ratings against peers show:

Price performance on a YTD basis looks like:

Q3 earnings commentary from contributors: 'Cloudflare Q3 Earnings: Time To Shine?' and 'Cloudflare: Really Difficult To Stay Bearish'
Recent company news: Stock scaled 14% on October 17 on upbeat comments from Wells Fargo analyst Andrew Nowinski, he raised his rating to overweight from equal-weight and boosted the PT to $65 from $62.
Jefferies cited that software stocks like Snowflake (SNOW), Zscaler (ZS), Cloudflare (NET), Atlassian (TEAM) and Datadog (DDOG) may slow down as the Federal Reserve looks to combat rising inflation with higher interest rates, putting shivers into the global economy.
Previously, 'Cloudflare slumps amid pressure tied to online harassment sites'