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Cloudflare (NET) Gains But Lags Market: What You Should Know
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Cloudflare (NET - Free Report) closed the most recent trading day at $67.57, moving +1.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.66%. At the same time, the Dow added 1.39%, and the tech-heavy Nasdaq gained 1.24%.
Heading into today, shares of the web security and content delivery company had lost 7.07% over the past month, lagging the Computer and Technology sector's loss of 1.7% and the S&P 500's gain of 1.91% in that time.
Investors will be hoping for strength from NET as it approaches its next earnings release. The company is expected to report EPS of -$0.03, up 25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $131.18 million, up 43.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $593.51 million, which would represent changes of +25% and +37.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NET. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NET is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
Cloudflare (NET - Free Report) closed the most recent trading day at $67.57, moving +1.38% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.66%. At the same time, the Dow added 1.39%, and the tech-heavy Nasdaq gained 1.24%.
Heading into today, shares of the web security and content delivery company had lost 7.07% over the past month, lagging the Computer and Technology sector's loss of 1.7% and the S&P 500's gain of 1.91% in that time.
Investors will be hoping for strength from NET as it approaches its next earnings release. The company is expected to report EPS of -$0.03, up 25% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $131.18 million, up 43.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $593.51 million, which would represent changes of +25% and +37.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NET. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NET is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.