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Cloudflare, Inc. (NET) Gains But Lags Market: What You Should Know
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Cloudflare, Inc. (NET - Free Report) closed at $79.15 in the latest trading session, marking a +0.16% move from the prior day. The stock lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 1.03%.
Coming into today, shares of the company had lost 5.98% in the past month. In that same time, the Computer and Technology sector gained 2.96%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from NET as it approaches its next earnings report date. On that day, NET is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $118.15 million, up 40.77% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NET. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NET is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cloudflare, Inc. (NET) Gains But Lags Market: What You Should Know
Cloudflare, Inc. (NET - Free Report) closed at $79.15 in the latest trading session, marking a +0.16% move from the prior day. The stock lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 1.03%.
Coming into today, shares of the company had lost 5.98% in the past month. In that same time, the Computer and Technology sector gained 2.96%, while the S&P 500 gained 3.13%.
Wall Street will be looking for positivity from NET as it approaches its next earnings report date. On that day, NET is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $118.15 million, up 40.77% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NET. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. NET is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.