Cloudflare (NET) Stock Sinks As Market Gains: What You Should Know
Cloudflare (NET) closed at $135.67 in the latest trading session, marking a -0.95% move from the prior day.
Cloudflare (NET) closed at $135.67 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's daily gain of 1.21%.
Coming into today, shares of the web security and content delivery company had gained 11.14% in the past month. In that same time, the Computer and Technology sector gained 1.28%, while the S&P 500 lost 0.9%.
Wall Street will be looking for positivity from NET as it approaches its next earnings report date. In that report, analysts expect NET to post earnings of -$0.04 per share. This would mark a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $165.87 million, up 45.3% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.11 per share and revenue of $632.43 million. These results would represent year-over-year changes of +8.33% and +46.72%, respectively.
Any recent changes to analyst estimates for NET should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.47% lower. NET is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 207, which puts it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cloudflare, Inc. (NET): Free Stock Analysis Report
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