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Is Cloudflare Stock a Buy Now?

TheMotleyFool

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Is Cloudflare Stock a Buy Now?: https://g.foolcdn.com/editorial/images/753631/cloud-computing-team-business.jpg

Cloudflare's (NYSE: NET) stock price dropped 6% during after-hours trading on Nov. 2 following its third-quarter report. The cloud-based content delivery network (CDN) and cybersecurity service provider's revenue rose 32% year over year to $336 million and exceeded analysts' estimates by $5 million. Its adjusted net income surged 189% to $55 million, or $0.16 per share, and beat the consensus forecast by $0.06 per share.

Cloudflare's growth rates looked healthy, but its cautious fourth-quarter guidance sunk its stock. Let's see if the market overreacted and created a good buying opportunity for long-term investors.

Image source: Getty Images.

Source Fool.com

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