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Cloudflare (NET) Gains But Lags Market: What You Should Know
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In the latest trading session, Cloudflare (NET - Free Report) closed at $137.27, marking a +0.34% move from the previous day. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the web security and content delivery company had lost 30.46% over the past month, lagging the Computer and Technology sector's gain of 0.29% and the S&P 500's gain of 0.87% in that time.
Cloudflare will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.01, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $184.65 million, up 46.63% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $645.64 million. These results would represent year-over-year changes of +58.33% and +49.78%, respectively.
Investors should also note any recent changes to analyst estimates for Cloudflare. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.9% higher within the past month. Cloudflare currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
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
In the latest trading session, Cloudflare (NET - Free Report) closed at $137.27, marking a +0.34% move from the previous day. This move lagged the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.55%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the web security and content delivery company had lost 30.46% over the past month, lagging the Computer and Technology sector's gain of 0.29% and the S&P 500's gain of 0.87% in that time.
Cloudflare will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.01, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $184.65 million, up 46.63% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $645.64 million. These results would represent year-over-year changes of +58.33% and +49.78%, respectively.
Investors should also note any recent changes to analyst estimates for Cloudflare. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.9% higher within the past month. Cloudflare currently has a Zacks Rank of #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.