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Cloudflare (NET) Dips More Than Broader Markets: What You Should Know
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Cloudflare (NET - Free Report) closed at $42.23 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's daily loss of 1.4%. Elsewhere, the Dow lost 1.34%, while the tech-heavy Nasdaq lost 1.57%.
Heading into today, shares of the web security and content delivery company had gained 23.27% over the past month, outpacing the Computer and Technology sector's loss of 0.17% and the S&P 500's loss of 0.46% in that time.
NET will be looking to display strength as it nears its next earnings release. On that day, NET is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 68.75%. Meanwhile, our latest consensus estimate is calling for revenue of $103.12 million, up 39.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $406.43 million, which would represent changes of +64.58% and +41.6%, respectively, from the prior year.
Any recent changes to analyst estimates for NET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NET is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cloudflare (NET) Dips More Than Broader Markets: What You Should Know
Cloudflare (NET - Free Report) closed at $42.23 in the latest trading session, marking a -1.47% move from the prior day. This change lagged the S&P 500's daily loss of 1.4%. Elsewhere, the Dow lost 1.34%, while the tech-heavy Nasdaq lost 1.57%.
Heading into today, shares of the web security and content delivery company had gained 23.27% over the past month, outpacing the Computer and Technology sector's loss of 0.17% and the S&P 500's loss of 0.46% in that time.
NET will be looking to display strength as it nears its next earnings release. On that day, NET is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 68.75%. Meanwhile, our latest consensus estimate is calling for revenue of $103.12 million, up 39.46% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $406.43 million, which would represent changes of +64.58% and +41.6%, respectively, from the prior year.
Any recent changes to analyst estimates for NET should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NET is currently sporting a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.