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Cloudflare (NET) Registers a Bigger Fall Than the Market: Important Facts to Note
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Cloudflare (NET - Free Report) ended the recent trading session at $95.66, demonstrating a -1.21% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq increased by 0.11%.
The web security and content delivery company's shares have seen a decrease of 3.09% over the last month, not keeping up with the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
The investment community will be paying close attention to the earnings performance of Cloudflare in its upcoming release. On that day, Cloudflare is projected to report earnings of $0.13 per share, which would represent year-over-year growth of 62.5%. Simultaneously, our latest consensus estimate expects the revenue to be $372.93 million, showing a 28.52% escalation compared to the year-ago quarter.
NET's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $1.65 billion. These results would represent year-over-year changes of +18.37% and +27.2%, respectively.
Investors might also notice recent changes to analyst estimates for Cloudflare. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Cloudflare currently has a Forward P/E ratio of 166.09. This expresses a premium compared to the average Forward P/E of 30.03 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cloudflare (NET) Registers a Bigger Fall Than the Market: Important Facts to Note
Cloudflare (NET - Free Report) ended the recent trading session at $95.66, demonstrating a -1.21% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq increased by 0.11%.
The web security and content delivery company's shares have seen a decrease of 3.09% over the last month, not keeping up with the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
The investment community will be paying close attention to the earnings performance of Cloudflare in its upcoming release. On that day, Cloudflare is projected to report earnings of $0.13 per share, which would represent year-over-year growth of 62.5%. Simultaneously, our latest consensus estimate expects the revenue to be $372.93 million, showing a 28.52% escalation compared to the year-ago quarter.
NET's full-year Zacks Consensus Estimates are calling for earnings of $0.58 per share and revenue of $1.65 billion. These results would represent year-over-year changes of +18.37% and +27.2%, respectively.
Investors might also notice recent changes to analyst estimates for Cloudflare. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Cloudflare currently has a Forward P/E ratio of 166.09. This expresses a premium compared to the average Forward P/E of 30.03 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 39, this industry ranks in the top 16% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.