Cloudflare Shares Slip 0.29% Near Highs

Cloudflare shares decreased $0.91 or 0.29% since the prior market close. The stock opened $0.83 lower than its previous close. Even with this decline, the stock trades near the high end of its 52-week range and stays above its 200-day simple moving average.

Cloudflare reported mixed financial metrics across its latest reporting periods. Total revenue rose 29.85% compared to the prior year and expanded 8.8% sequentially. However, net income fell 29.78% from last year and decreased 641.4% from the prior quarter. Earnings per share also dropped 27.17% year over year and fell 638.0% compared to the previous quarter.

Cloudflare holds a market capitalization between $10 billion and $200 billion, placing it in the large-capitalization category within the Technology Services sector. The San Francisco-based company provides security and cloud infrastructure products across the United States and international markets.