Moderna, JFrog, TransMedics, Ubiquiti And Other Big Stocks Moving Higher On Friday
U.S. stocks rose, Nasdaq gained ~400 points. Moderna jumped 9.1% on strong Q3 results and higher FY26 guidance; other stocks rallied on results and deals.
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U.S. stocks rose, Nasdaq gained ~400 points. Moderna jumped 9.1% on strong Q3 results and higher FY26 guidance; other stocks rallied on results and deals.
RBC Capital Markets updated its outlook on Cloudflare, lowering its price target while maintaining an Outperform rating.
Cloudflare reported a workforce reduction of approximately 20% as part of its transition to an agentic AI-first operating model.
Cloudflare reported strong Q3 revenue growth of 39% to $782.5 million with annualized revenue surpassing $3 billion, causing shares to jump 15% in after-hours trading. However, gross margin declined 3 points to 71.2% as cost of revenue grew 54%, significantly outpacing sales growth. Free cash flow margin also slipped to 10% from 13%, and GAAP operating losses widened, reflecting the costs associated with rapid expansion and network capacity investments.