Cloudflare (NET) stock movements -0.4%: what you need to know

This story originally appeared on Zack

In the last trading session, Cloudflare (NET) closed at $ 127.48, marking a movement of -0.4% from the previous day. This move was narrower than the S&P 500’s 0.77% daily loss.

– Zack

As of today, shares of the web security and content delivery company have gained 4.71% over the past month. At the same time, the computer and technology sector gained 3.13%, while the S&P 500 gained 1.55%.

Investors are hoping for NET strength as its next earnings release nears. The company is expected to post EPS of – $ 0.04, down 100% from the previous year quarter. Meanwhile, our latest consensus estimate projects revenue of $ 165.87 million, up 45.3% from the previous year’s quarter.

For the full year, our Zacks consensus estimates suggest that analysts expect earnings of $ -0.11 per share and revenue of $ 632.43 million. These totals would mark changes of + 8.33% and + 46.72%, respectively, from a year ago.

Investors should also note any recent changes in analyst estimates for NET. These revisions help show the ever-changing nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe that these estimate revisions are directly related to stock movements close to the team. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides an actionable rating system.

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 fallen 0.47%. NET 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 204, which places it in the lowest 20% 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.

You can find more information on all of these metrics, and more, at Zacks.com.

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Ann J. Cox