Cloudflare shares are trading lower as the stock pulls back after gaining last week on strong earnings and guidance. Guggenheim downgraded the stock from Neutral to Sell.
Portfolio Pulse from Benzinga Newsdesk
Cloudflare shares are trading lower after a downgrade from Guggenheim from Neutral to Sell. This comes after the stock had gained last week due to strong earnings and guidance.

August 07, 2023 | 11:05 am
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NEGATIVE IMPACT
Cloudflare's stock is trading lower after being downgraded by Guggenheim from Neutral to Sell, despite strong earnings and guidance last week.
The downgrade by Guggenheim from Neutral to Sell is a negative signal to investors, which is likely causing the stock to trade lower. Despite the strong earnings and guidance last week, the downgrade seems to have a stronger impact on the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100