Shares of edge network software specialist Cloudflare (NYSE: NET) skyrocketed 20% in trading this week, according to data from S&P Global Market Intelligence. Cloudflare shares have risen 121% year to date and more than 60% in the last three months alone. This week's gains likely reflect high demand for the stock ahead of Cloudflare's third-quarter earnings report, which is due after the market close on Nov. 4.
In the latest trading session, Cloudflare (NET) closed at $167.69, marking a +1.46% move from the previous day.
The tech giant's stock is up 117% year to date. It's safe to say that expectations are high.