Cloudflare (NET) stock movements -0.08%: what you need to know

VSloudflare (NET) closed on the most recent trading day at $ 133.20, or -0.08% from the previous trading session. This change was smaller than the S&P 500’s 0.3% loss on the day. Meanwhile, the Dow Jones lost 0.25% and the Nasdaq, an index with a strong technology component, added 0.33%.

As of today, shares of the web security and content delivery company had lost 18.82% in the past month, behind the 0.63% gain in the IT sector and technology and the S&P 500’s 3.11% gain during this period.

Investors are hopeful that Cloudflare will strengthen as its next earnings release nears. On that day, Cloudflare is expected to report a profit of – $ 0.01 per share, which would represent 50% year-over-year growth. Our most recent consensus estimate projects quarterly revenue of $ 184.65 million, up 46.63% from the previous year.

For the full year, our Zacks consensus estimates suggest that analysts expect earnings of $ -0.05 per share and revenue of $ 645.64 million. These totals would mark changes of + 58.33% and + 49.78%, respectively, compared to last year.

Investors may also notice recent changes in analyst estimates for Cloudflare. Recent revisions tend to reflect the latest short-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 short-term stock price dynamics. We have developed the Zacks Rank to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable scoring model.

Zacks’ ranking system, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive record of externally audited outperformance, with # 1 stocks generating an average annual return of + 25% since 1988. Over the past 30 days, our consensus EPS forecast has increased 4.9%. Cloudflare currently holds a Zacks rank of 3 (Maintain).

The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 187, which places it in the lowest 27% of all 250+ industries.

The Zacks Industry Rankings assesses the strength of our individual industry groups by measuring the average Zacks rank of individual stocks within groups. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ann J. Cox