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Cloudflare (NET) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Cloudflare (NET) closed at $41.62, marking a +1.19% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.77%. At the same time, the Dow added 0.44%, and the tech-heavy Nasdaq gained 1.49%.

Coming into today, shares of the web security and content delivery company had gained 12.78% in the past month. In that same time, the Computer and Technology sector gained 5.59%, while the S&P 500 gained 5.03%.

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.

NET's full-year Zacks Consensus Estimates are calling for earnings of -$0.19 per share and revenue of $393.52 million. These results would represent year-over-year changes of +60.42% and +37.1%, respectively.

Any recent changes to analyst estimates for NET should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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 94, which puts it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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