Jim Cramer on Cloudflare: " These Guys Delivered a Clean Beat and Raise Quarter"

Cloudflare, Inc. (NYSE:NET) is one of the stocks on Jim Cramer’s radar. Cramer noted that the company reported an “excellent quarter” and said:

“Looks like one of my favorites, Cloudflare, is finally getting its due after the cybersecurity company reported an excellent quarter last Thursday night, only to see its stock sink 3.6% on Friday, was dragged down by that quarter’s sell-off. Today, though, Cloudflare snapped back, up more than 4%, which makes perfect sense because these guys delivered a clean beat and raise quarter with better-than-expected numbers in every line for the quarter, and truly strong guidance. Initially, none of this seemed to matter, but with today’s rally, the stock’s now sitting at its highest level in nearly four years and within spitting distance of its COVID-era peak.”

Cloudflare (NYSE:NET) provides cloud-based security, networking, and performance solutions for websites, applications, and enterprise infrastructure. The company’s platform supports Zero Trust security, content delivery, developer tools, and consumer services like DNS and VPN.

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Disclosure: None. This article is originally published at Insider Monkey.