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Cloudflare (NET) Gains As Market Dips: What You Should Know
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Cloudflare (NET - Free Report) closed at $71.69 in the latest trading session, marking a +1.8% move from the prior day. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.76%.
Prior to today's trading, shares of the web security and content delivery company had lost 14.94% over the past month. This has lagged the Computer and Technology sector's loss of 6.54% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from NET as it approaches 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, the Zacks Consensus Estimate for revenue is projecting net sales of $131.13 million, up 43.7% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.09 per share and revenue of $593.34 million. These results would represent year-over-year changes of +25% and +37.65%, respectively.
It is also important to note the recent changes to analyst estimates for NET. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection 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 industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 35% 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 (NET) Gains As Market Dips: What You Should Know
Cloudflare (NET - Free Report) closed at $71.69 in the latest trading session, marking a +1.8% move from the prior day. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.76%.
Prior to today's trading, shares of the web security and content delivery company had lost 14.94% over the past month. This has lagged the Computer and Technology sector's loss of 6.54% and the S&P 500's gain of 0.17% in that time.
Investors will be hoping for strength from NET as it approaches 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, the Zacks Consensus Estimate for revenue is projecting net sales of $131.13 million, up 43.7% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.09 per share and revenue of $593.34 million. These results would represent year-over-year changes of +25% and +37.65%, respectively.
It is also important to note the recent changes to analyst estimates for NET. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection 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 industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 35% 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.