Cloudflare Inc. (NYSE:NET) does about 5.86M shares in volume on a normal day but saw 4318731 shares change hands in Monday trading. The company now has a market cap of 11.72B USD and an enterprise value of about $11.49B. Its current market price is $38.26, marking a decrease of -3.51% compared to the previous close of $39.65. The 52 week high reached by this stock is $45.28 whilst the lowest price level in 52 weeks is $14.50. The script in recent trading has seen the stock touch a high of $39.90 and a low of $38.17.
Cloudflare Inc. (NET) has a 20-day trading average at $39.52 and the current price is -15.50% off the 52-week high compared with 163.86% distance from its 52-week low. The 50-day simple moving average of the closing price is $38.31 and its 200-day simple moving average is $26.00. If we look at the stock’s price movements over the week, volatility stands at 3.90%, which increases to 4.96% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 46.84 to suggest the stock is neutral.
15 analysts observing the Cloudflare Inc. (NET) stock have set the 12-month price targets for the company’s shares at between $30.00 and $55.00. The consensus objective for the share price is $46.33, suggesting that the stock has a potential upside of 17.42% over the period. The median price target is 20.29% away from the current levels at $48.00.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 10 analysts have rated it as a buy and 4 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 07, 2020 when Needham reiterated the stock to “Buy” and issued a price target of between $47 and $50. Jefferies upgraded the stock to “Buy” from Hold on July 28, 2020 at a price target of $27-$50. Needham reiterated its price target at $38-$47.
The current price level is -3.70%, -0.02%, and 47.79% away from its SMA20, SMA50, and SMA200 respectively, with the NET price moving above the 50-day SMA on August 31. Cloudflare Inc. (NET) stock is up 0.45% over the week and -8.07% over the past month. Its price is 124.27% year-to-date.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.03 above consensus estimates by $0.03. The company’s next earnings report is expected on 11/05/2020, with forecasts estimating quarterly EPS at -$0.05 and -$0.17 for whole year. NET’s earnings per share are forecast to grow by 64.60% this year and 23.50% over next year. Expected sales for next quarter are $112.32 million, which analysts say will come at $406.45 million for the current fiscal year and next year at $533.5 million. In addition, estimates put the company’s current quarterly revenue at an average of $103.15 million.
To reach the target analysts have set, the stock logically needs to grow 17.42 percent from here.
Outstanding shares total 299.32M with insiders holding 5.54% of the shares and institutional holders owning 47.28% of the company’s common stock. The company has a return on investment of -14.80% and return on equity of -17.00%. Price to book ratio is 13.71 and price to sales ratio is 33.60.
According to a U.S. Securities and Exchange Commission filing, Fidelity Contrafund has reduced its position in Cloudflare Inc. (NET) to 6,501,765 shares, mirroring a recent drop by -0.32%. Fidelity Contrafund dumped 20875.0 shares of Cloudflare Inc. common stock bringing its total worth to about $270.6 million at the end of recent close, SEC documents show. Fidelity Contrafund isn’t the only investment manager who changed stakes and is followed by Fidelity Growth Company Fund, which sold off 12403.0 shares to end up with 5,558,635 shares worth $231.35 million. Vanguard Total Stock Market Index cut their holdings by -0.64% in the company over the course of the most recent quarter. It now holds a 1.99% position in Cloudflare Inc. thanks to 3.28 million shares amounting to $136.53 million.