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Cloudflare (NET) Gains But Lags Market: What You Should Know
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In the latest trading session, Cloudflare (NET - Free Report) closed at $137.27, marking a +0.34% move from the previous day. This change lagged the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the web security and content delivery company had lost 30.69% over the past month. This has lagged the Computer and Technology sector's loss of 1.01% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Cloudflare as it approaches its next earnings report date. On that day, Cloudflare is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $184.65 million, up 46.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $645.64 million, which would represent changes of +58.33% and +49.78%, respectively, from the prior year.
Any recent changes to analyst estimates for Cloudflare should also be noted by investors. 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.9% higher. Cloudflare currently has 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 199, which puts it in the bottom 22% 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) Gains But Lags Market: What You Should Know
In the latest trading session, Cloudflare (NET - Free Report) closed at $137.27, marking a +0.34% move from the previous day. This change lagged the S&P 500's 0.62% gain on the day. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the web security and content delivery company had lost 30.69% over the past month. This has lagged the Computer and Technology sector's loss of 1.01% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Cloudflare as it approaches its next earnings report date. On that day, Cloudflare is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $184.65 million, up 46.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.05 per share and revenue of $645.64 million, which would represent changes of +58.33% and +49.78%, respectively, from the prior year.
Any recent changes to analyst estimates for Cloudflare should also be noted by investors. 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4.9% higher. Cloudflare currently has 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 199, which puts it in the bottom 22% 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.