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Cloudflare (NET) Outpaces Stock Market Gains: What You Should Know
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Cloudflare (NET - Free Report) closed the most recent trading day at $120.39, moving +0.53% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.42%.
Heading into today, shares of the web security and content delivery company had gained 13.14% over the past month, outpacing the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 2.64% in that time.
Investors will be hoping for strength from NET as it approaches its next earnings release, which is expected to be August 5, 2021. The company is expected to report EPS of -$0.04, down 33.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $146.22 million, up 46.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.11 per share and revenue of $612.16 million, which would represent changes of +8.33% and +42.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NET. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate 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 189, putting it in the bottom 26% 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.
To follow NET in the coming trading sessions, be sure to utilize Zacks.com.
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Cloudflare (NET) Outpaces Stock Market Gains: What You Should Know
Cloudflare (NET - Free Report) closed the most recent trading day at $120.39, moving +0.53% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.42%.
Heading into today, shares of the web security and content delivery company had gained 13.14% over the past month, outpacing the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 2.64% in that time.
Investors will be hoping for strength from NET as it approaches its next earnings release, which is expected to be August 5, 2021. The company is expected to report EPS of -$0.04, down 33.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $146.22 million, up 46.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.11 per share and revenue of $612.16 million, which would represent changes of +8.33% and +42.01%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NET. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate 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 189, putting it in the bottom 26% 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.
To follow NET in the coming trading sessions, be sure to utilize Zacks.com.