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Cloudflare (NET) Dips More Than Broader Markets: What You Should Know

Cloudflare (NET) closed the most recent trading day at $106.51, moving -0.72% from the previous trading session. This move lagged the S&P 500's daily loss of 0.35%.

Prior to today's trading, shares of the web security and content delivery company had gained 12.17% over the past month. This has outpaced the Computer and Technology sector's gain of 4.23% and the S&P 500's gain of 3.36% in that time.

NET will be looking to display strength as it nears its next earnings release, which is expected to be August 5, 2021. On that day, NET is projected to report earnings of -$0.04 per share, which would represent 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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.

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 remained stagnant within the past month. NET is holding a Zacks Rank of #4 (Sell) right now.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 200, 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.

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


Bitcoin, Like the Internet Itself, Could Change Everything

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Cloudflare, Inc. (NET): Free Stock Analysis Report
 
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