Cloudflare, Inc. (NET)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Cloudflare, Inc. (“Cloudflare” or the “Company) (NYSE: NET). Investors who purchased Cloudflare securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Cloudflare has violated federal securities laws.
On April 27, 2023, Cloudflare issued a press release announcing its financial results for the first quarter of 2023 and providing its financial outlook for the second quarter and full fiscal year 2023. Among other items, Cloudflare advised that for its second quarter, it expects revenue in the range of $305 million to $306 million, significantly lower than the nearly $320 million in sales forecast by analysts. Similarly, Cloudflare cut its full-year revenue outlook to between $1.28 billion and $1.284 billion, after earlier estimating sales to be in a range of $1.33 billion to $1.34 billion. On this news, Cloudflare’s stock price fell sharply during intraday trading on April 28, 2023.
If you are aware of any facts relating to this investigation or purchased Cloudflare shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.