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Cloudflare (NET) Surpasses Market Returns: Some Facts Worth Knowing
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Cloudflare (NET - Free Report) closed the latest trading day at $88.01, indicating a +1.44% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
Heading into today, shares of the web security and content delivery company had lost 10.4% over the past month, lagging the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15% in that time.
Investors will be eagerly watching for the performance of Cloudflare in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 2, 2024. The company is expected to report EPS of $0.13, up 62.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $372.93 million, up 28.52% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.58 per share and a revenue of $1.65 billion, indicating changes of +18.37% and +27.2%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cloudflare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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, there's been no change in the Zacks Consensus EPS estimate. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cloudflare is presently being traded at a Forward P/E ratio of 148.82. Its industry sports an average Forward P/E of 28.63, so one might conclude that Cloudflare is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Cloudflare (NET) Surpasses Market Returns: Some Facts Worth Knowing
Cloudflare (NET - Free Report) closed the latest trading day at $88.01, indicating a +1.44% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
Heading into today, shares of the web security and content delivery company had lost 10.4% over the past month, lagging the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15% in that time.
Investors will be eagerly watching for the performance of Cloudflare in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 2, 2024. The company is expected to report EPS of $0.13, up 62.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $372.93 million, up 28.52% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.58 per share and a revenue of $1.65 billion, indicating changes of +18.37% and +27.2%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Cloudflare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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, there's been no change in the Zacks Consensus EPS estimate. Cloudflare is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Cloudflare is presently being traded at a Forward P/E ratio of 148.82. Its industry sports an average Forward P/E of 28.63, so one might conclude that Cloudflare is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 62, finds itself in the top 25% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.