Why Cloudflare Shares Fell Hard Today

Shares of Cloudflare (NYSE: NET), a cloud platform company, were tumbling today after the company reported its fourth-quarter results late yesterday. Despite delivering quarterly earnings that were on par with analysts' consensus estimate and revenue that beat Wall Street's expectations, the tech stock took a nosedive today.

Cloudflare's stock was down by as much as 10.6% today and had fallen 9.5% at the end of the trading day. 

Cloudflare reported break-even non-GAAP earnings per share for the quarter, which met analysts' consensus estimate. Additionally, the company's revenue of $193.6 million in the quarter outpaced Wall Street's estimate of $184.9 million.  

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Source Fool.com