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Cloudflare (NET - Free Report) closed the most recent trading day at $83.95, moving +0.62% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.85%, and the technology-centric Nasdaq increased by 0.2%.
The web security and content delivery company's stock has climbed by 7.4% in the past month, exceeding the Computer and Technology sector's gain of 1.06% and the S&P 500's gain of 3.82%.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. The company plans to announce its earnings on August 1, 2024. The company's upcoming EPS is projected at $0.14, signifying a 40% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $394.05 million, up 27.74% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.62 per share and a revenue of $1.65 billion, indicating changes of +26.53% and +27.27%, respectively, from the former year.
Any recent changes to analyst estimates for Cloudflare should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Cloudflare holds a Zacks Rank of #3 (Hold).
In the context of valuation, Cloudflare is at present trading with a Forward P/E ratio of 134.78. This signifies a premium in comparison to the average Forward P/E of 29.87 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cloudflare (NET) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Cloudflare (NET - Free Report) closed the most recent trading day at $83.95, moving +0.62% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.64%. On the other hand, the Dow registered a gain of 1.85%, and the technology-centric Nasdaq increased by 0.2%.
The web security and content delivery company's stock has climbed by 7.4% in the past month, exceeding the Computer and Technology sector's gain of 1.06% and the S&P 500's gain of 3.82%.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. The company plans to announce its earnings on August 1, 2024. The company's upcoming EPS is projected at $0.14, signifying a 40% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $394.05 million, up 27.74% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.62 per share and a revenue of $1.65 billion, indicating changes of +26.53% and +27.27%, respectively, from the former year.
Any recent changes to analyst estimates for Cloudflare should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Cloudflare holds a Zacks Rank of #3 (Hold).
In the context of valuation, Cloudflare is at present trading with a Forward P/E ratio of 134.78. This signifies a premium in comparison to the average Forward P/E of 29.87 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 95, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.