Cloudflare (NET) expands tie with CrowdStrike and strengthens portfolio

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Cloudy NET recently announced that it has expanded its partnership with the Sunnyvale, Calif.-based leader in next-generation endpoint protection, threat intelligence and cyberattack response services — CrowdStrike CRWD. Under the agreement, the website security company will integrate its Zero Trust platform with CrowdStrike’s Falcon Zero Trust assessment platform to provide more powerful Zero Trust solutions to joint customers of both companies.

Cloudflare’s Zero Trust Platform is an information technology security model that requires strict identity verification for every person and device trying to access resources on a private network, whether they are on the inside or outside the network perimeter. It accesses all user applications to authenticate them on its global edge network and integrates third-party users seamlessly.

The platform comes with Secure Web Gateway to improve visibility and protection of SaaS applications. It offers remote browsing solutions, thus negating the impact of attacks and running all browser codes in cloud form.

By combining insights from the company’s global network with CrowdStrike’s CrowdXDR Alliance platform, Cloudflare will help joint customers identify and stop cyberattacks. In the event of an attack, CrowdStrike will work with Cloudflare to help bring customers’ web properties and networks back online.

Cloudflare, Inc. Pricing and Consensus

Cloudflare, Inc. Price Consensus Chart | Quote from Cloudflare, Inc.

Cloudflare has benefited from a high demand for security solutions, which has become imperative due to aggravated cyberattacks, work and learn-from-home policies, and a zero-trust approach. Recently, the company launched the Cloudflare Application Programming Interfaces (“API”) Gateway to provide simple, fast, and effective protection for all of its businesses while controlling their APIs.

The new release leverages Cloudflare’s machine learning engine to analyze API traffic and provides comprehensive visibility by analyzing the entire network and automatically listing API endpoints.

Previously, Cloudflare announced that it would offer email security to all of its enterprise customers to protect against phishing and malware attacks after the Area 1 Security takeover closes.

Cloudflare reported revenue of $193.6 million in its latest quarterly report. In fiscal 2021, the company added 588 large customers (customers with annualized revenues greater than $100,000), bringing the total number to 1,416 large customers. Large customers accounted for 54% of 2021 revenue. This upward trend, which has prevailed in recent quarters, is driven by high demand for its cloud-based solutions amid the wave of work to distance caused by the pandemic.

It is worth mentioning that Cloudflare has been recognized in the Leaders category of the IDC MarketScape: Worldwide Commercial CDN 2022 Vendor Assessment, a leading vendor assessment tool providing in-depth quantitative and qualitative assessments of the technology vendor market. information and communications for a wide range of technologies. markets.

Zacks ranking and key picks

Cloudflare and CrowdStrike currently carry Zacks rank #3 (Hold). Shares of NET and CRWD have jumped 51% and 1.4% respectively over the past year.

Some top-ranked stocks in the broader IT and technology sector are Advanced micro-systems AMD sporting a Zacks rank #1 (Strong Buy) and Axcelis Technologies ACLS wearing a Zacks Rank #2 (Buy). You can see the full list of today’s Zacks #1 Rank stocks here.

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AMD’s earnings have exceeded the Zacks consensus estimate in the previous four quarters, with the average surprise being 17%. AMD shares have gained 41.3% over the past year.

Zacks’ consensus estimate for Axcelis’ first-quarter 2022 earnings has been revised up 5 cents to 92 cents per share in the past 60 days. For 2022, Axcelis earnings estimates rose 12.4% to $3.99 per share over the past 60 days.

Axcelis’ earnings have exceeded the Zacks consensus estimate in each of the previous four quarters, with the average surprise being 30.3%. ACLS shares have climbed 106.2% over the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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