RADNOR, Pa., May 02, 2023 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Cloudflare, Inc. (NYSE: NET) (“Cloudflare”).
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 things, Cloudflare advised that for its second quarter, the company 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 revealed that it 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. Following this news, Cloudflare's stock price fell sharply during intraday trading, to close at $47.05 on April 28, 2023.
If you are a Cloudflare investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/cloudflare-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=net&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
