Cloudflare Inc (NET) released its first quarter results on Sunday, May 9, 2021. The company reported net earnings of $-0.13 per share for the first quarter ending March 31, 2021. Earnings for this past quarter declined 18 percent compared to the same period a year ago.
CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California. CloudFlare, Inc. operates a cloud platform that delivers a range of network services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
Cloudflare's revenue increased 51 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 96.05% for the first quarter compared to the same period in the previous year, and operating margins increased to 22.64% over the same period. Net earnings for past trailing twelve months were $-126.59 million, down 4% from the prior year.
Moving on to the balance sheet, Cloudflare's cash levels jumped 74% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 13.35% this past year. The current ratio for Cloudflare now stands at 6.78. The company increased shares outstanding by 2.36%.
Shares of NET are currently trading around $71.62. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of nan and price to book ratio of 27.25.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, May 10, 2021.