Is Cloudflare Stock a Buy Now?
Cloudflare's (NYSE: NET) stock jumped 8% during after-hours trading after it posted its second-quarter earnings report. The cloud-based content delivery network (CDN) provider's revenue rose 32% year over year to $308.5 million and beat analysts' estimates by $2.7 million. Its adjusted net income surged from $0.3 million to $33.7 million, or $0.10 per share, which also cleared the consensus forecast by three cents.
Those headline numbers were impressive, but Cloudflare's growth is still cooling off as it faces challenging macro headwinds. Let's identify those weaknesses and see if its stock is still worth chasing after its year-to-date gains of more than 50%.
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Source Fool.com
