Cloudflare (NET) closed at $94 in the latest trading session, marking a +0.57% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.2%.
Heading into today, shares of the web security and content delivery company had gained 40.24% over the past month, outpacing the Computer and Technology sector's gain of 5.84% and the S&P 500's gain of 1.06% in that time.
Investors will be hoping for strength from NET as it approaches its next earnings release. In that report, analysts expect NET to post earnings of -$0.04 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $146.22 million, up 46.63% from the year-ago period.
NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.11 per share and revenue of $612.16 million. These results would represent year-over-year changes of +8.33% and +42.01%, respectively.
Investors might also notice recent changes to analyst estimates for NET. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, the Zacks Consensus EPS estimate remained stagnant. NET is currently sporting a Zacks Rank of #4 (Sell).
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 22% 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.
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, Inc. (NET) : Free Stock Analysis Report
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