|Bid||59.81 x 900|
|Ask||59.60 x 1200|
|Day's Range||53.70 - 59.35|
|52 Week Range||51.00 - 221.64|
|Beta (5Y Monthly)||0.69|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 09, 2022 - Feb 14, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||123.71|
Investor euphoria pushed many growth and technology stocks to stretched valuations in 2020 and early 2021. Cloud services company Cloudflare (NYSE: NET) was among them, trading at more than 100 times sales, making it one of the most expensive stocks on Wall Street at one point. Naturally, investors have sold highfliers like Cloudflare during the current bear market, and shares of the company are down more than 70% from their highs of $221.
Cloudflare and Autodesk are great companies, but the sell-off in SaaS stocks will need to continue for prices to look attractive.
Baron Funds, an asset management firm, published its “Baron Fifth Avenue Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Fifth Avenue Growth Fund (the “Fund”) declined 21.0% (Institutional Shares) during the first quarter, which compared to declines of 9.0% for the Russell 1000 Growth Index (“R1KG”) […]