Cloudflare Inc (NYSE:NET) does about 4.07M shares in volume on a normal day but saw 2737883 shares change hands in Friday trading. The company now has a market cap of 32.47B USD. Its current market price is $96.16, marking an increase of 3.12% compared to the previous close of $93.25. The 52 week high reached by this stock is $116.00 whilst the lowest price level in 52 weeks is $39.90.
Cloudflare Inc (NET) has a 20-day trading average at $95.88 and the current price is -17.10% off the 52-week high compared with 141.00% distance from its 52-week low. The 50-day simple moving average of the closing price is $94.42 and its 200-day simple moving average is $74.77. If we look at the stock’s price movements over the week, volatility stands at 3.82%, which decreases to 3.75% 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 51.30 to suggest the stock is neutral.
The consensus objective for the share price is $102.12, suggesting that the stock has a potential upside of 5.84% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 13, 2024 when DZ Bank downgraded the stock to “Hold” and issued a price target of $110. Bernstein initiated its price target at $85.
Cloudflare Inc (NET) stock is down -0.69% over the week and -1.36% over the past month. Its price is 15.49% year-to-date and 57.05% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $0.15 above consensus estimates by $0.03. NET’s earnings per share are forecast to grow by 22.40% this year and 30.00% over next year. Expected sales for next quarter are $393.44 million, which analysts say will come at $1.66 billion for the current fiscal year and next year at $2.12 billion. In addition, estimates put the company’s current quarterly revenue at an average of $373.08 million.
To reach the target analysts have set, the stock logically needs to grow 5.84 percent from here.
Outstanding shares total 298.09M with insiders holding 1.03% of the shares and institutional holders owning 86.29% of the company’s common stock. The company has a return on investment of -8.52% and return on equity of -26.52%. The forward price to earnings ratio is 129.11. The beta has a value of 1.13. Price to book ratio is 42.54 and price to sales ratio is 25.04.
