We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cloudflare (NET) Rises But Trails Market: What Investors Should Know
Read MoreHide Full Article
Cloudflare (NET - Free Report) ended the recent trading session at $79.59, demonstrating a +0.68% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.25%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Prior to today's trading, shares of the web security and content delivery company had gained 3.48% over the past month. This has outpaced the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58% in that time.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. The company plans to announce its earnings on February 8, 2024. On that day, Cloudflare is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $352.7 million, up 28.39% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Cloudflare. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Cloudflare is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cloudflare has a Forward P/E ratio of 148.64 right now. This expresses a premium compared to the average Forward P/E of 32.99 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cloudflare (NET) Rises But Trails Market: What Investors Should Know
Cloudflare (NET - Free Report) ended the recent trading session at $79.59, demonstrating a +0.68% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.25%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Prior to today's trading, shares of the web security and content delivery company had gained 3.48% over the past month. This has outpaced the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 1.58% in that time.
Market participants will be closely following the financial results of Cloudflare in its upcoming release. The company plans to announce its earnings on February 8, 2024. On that day, Cloudflare is projected to report earnings of $0.12 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $352.7 million, up 28.39% from the year-ago period.
Investors should also pay attention to any latest changes in analyst estimates for Cloudflare. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Cloudflare is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Cloudflare has a Forward P/E ratio of 148.64 right now. This expresses a premium compared to the average Forward P/E of 32.99 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.