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Cloudflare (NET) Rises But Trails Market: What Investors Should Know
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Cloudflare (NET - Free Report) closed the latest trading day at $93.75, indicating a +0.3% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
The web security and content delivery company's stock has climbed by 18.93% in the past month, exceeding the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
Analysts and investors alike will be keeping a close eye on the performance of Cloudflare in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. The company's upcoming EPS is projected at $0.18, signifying a 12.5% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $423.65 million, up 26.24% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.71 per share and revenue of $1.66 billion, indicating changes of +44.9% and +27.89%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Cloudflare. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Cloudflare possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Cloudflare is currently being traded at a Forward P/E ratio of 132.48. This denotes a premium relative to the industry's average Forward P/E of 31.76.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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 (NET) Rises But Trails Market: What Investors Should Know
Cloudflare (NET - Free Report) closed the latest trading day at $93.75, indicating a +0.3% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
The web security and content delivery company's stock has climbed by 18.93% in the past month, exceeding the Computer and Technology sector's gain of 6.36% and the S&P 500's gain of 4.87%.
Analysts and investors alike will be keeping a close eye on the performance of Cloudflare in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. The company's upcoming EPS is projected at $0.18, signifying a 12.5% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $423.65 million, up 26.24% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.71 per share and revenue of $1.66 billion, indicating changes of +44.9% and +27.89%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Cloudflare. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Cloudflare possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Cloudflare is currently being traded at a Forward P/E ratio of 132.48. This denotes a premium relative to the industry's average Forward P/E of 31.76.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.