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Cloudflare (NET) Stock Falls Amid Market Uptick: What Investors Need to Know
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Cloudflare (NET - Free Report) closed the latest trading day at $78.59, indicating a -0.34% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
The the stock of web security and content delivery company has fallen by 4.02% in the past month, lagging the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 4.86%.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. It is anticipated that the company will report an EPS of $0.18, marking a 12.5% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $423.65 million, reflecting a 26.24% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.71 per share and a revenue of $1.66 billion, signifying shifts of +44.9% and +27.89%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cloudflare. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cloudflare is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Cloudflare is currently being traded at a Forward P/E ratio of 111.66. This denotes a premium relative to the industry's average Forward P/E of 30.32.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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) Stock Falls Amid Market Uptick: What Investors Need to Know
Cloudflare (NET - Free Report) closed the latest trading day at $78.59, indicating a -0.34% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
The the stock of web security and content delivery company has fallen by 4.02% in the past month, lagging the Computer and Technology sector's gain of 3.3% and the S&P 500's gain of 4.86%.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. It is anticipated that the company will report an EPS of $0.18, marking a 12.5% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $423.65 million, reflecting a 26.24% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.71 per share and a revenue of $1.66 billion, signifying shifts of +44.9% and +27.89%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cloudflare. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cloudflare is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Cloudflare is currently being traded at a Forward P/E ratio of 111.66. This denotes a premium relative to the industry's average Forward P/E of 30.32.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.