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Cloudflare (NET) Stock Sinks As Market Gains: What You Should Know
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Cloudflare (NET - Free Report) closed the most recent trading day at $76.30, moving -0.4% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow added 0.9%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the web security and content delivery company had lost 16.07% over the past month. This has lagged the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% 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 -$0.03 per share, which would represent year-over-year growth of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $131.13 million, up 43.7% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $593.34 million, which would represent changes of +25% and +37.65%, respectively, from the prior year.
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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.39% lower. 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 175, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 (NET) Stock Sinks As Market Gains: What You Should Know
Cloudflare (NET - Free Report) closed the most recent trading day at $76.30, moving -0.4% from the previous trading session. This move lagged the S&P 500's daily gain of 0.1%. At the same time, the Dow added 0.9%, and the tech-heavy Nasdaq lost 0.59%.
Prior to today's trading, shares of the web security and content delivery company had lost 16.07% over the past month. This has lagged the Computer and Technology sector's loss of 5.38% and the S&P 500's gain of 0.71% 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 -$0.03 per share, which would represent year-over-year growth of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $131.13 million, up 43.7% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $593.34 million, which would represent changes of +25% and +37.65%, respectively, from the prior year.
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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.39% lower. 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 175, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.