Cloudflare (NET) closed at $35.72 in the latest trading session, marking a -1.95% move from the prior day. This change lagged the S&P 500's daily loss of 0.62%. At the same time, the Dow lost 0.69%, and the tech-heavy Nasdaq lost 0.94%.
Heading into today, shares of the web security and content delivery company had gained 1.19% over the past month, lagging the Computer and Technology sector's gain of 2.56% and the S&P 500's gain of 3.51% in that time.
Wall Street will be looking for positivity from NET as it approaches its next earnings report date. This is expected to be August 6, 2020.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.19 per share and revenue of $393.52 million. These totals would mark changes of +60.42% and +37.1%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NET. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.71% higher within the past month. NET is currently a Zacks Rank #3 (Hold).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cloudflare, Inc. (NET) : Free Stock Analysis Report
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