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Cloudflare (NET) Rises Higher Than Market: Key Facts
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The most recent trading session ended with Cloudflare (NET - Free Report) standing at $81.76, reflecting a +1.58% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Heading into today, shares of the web security and content delivery company had gained 5.57% over the past month, lagging the Computer and Technology sector's gain of 8.21% and outpacing the S&P 500's gain of 5.41% in that time.
Investors will be eagerly watching for the performance of Cloudflare in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.18, signifying a 12.5% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $423.65 million, indicating a 26.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.71 per share and a revenue of $1.66 billion, demonstrating changes of +44.9% and +27.89%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cloudflare. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.03% lower. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cloudflare has a Forward P/E ratio of 114.08 right now. For comparison, its industry has an average Forward P/E of 31.75, which means Cloudflare is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cloudflare (NET) Rises Higher Than Market: Key Facts
The most recent trading session ended with Cloudflare (NET - Free Report) standing at $81.76, reflecting a +1.58% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Heading into today, shares of the web security and content delivery company had gained 5.57% over the past month, lagging the Computer and Technology sector's gain of 8.21% and outpacing the S&P 500's gain of 5.41% in that time.
Investors will be eagerly watching for the performance of Cloudflare in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.18, signifying a 12.5% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $423.65 million, indicating a 26.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.71 per share and a revenue of $1.66 billion, demonstrating changes of +44.9% and +27.89%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Cloudflare. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.03% lower. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cloudflare has a Forward P/E ratio of 114.08 right now. For comparison, its industry has an average Forward P/E of 31.75, which means Cloudflare is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.