Cloudflare Inc. [NET] Is Currently -7.06 below its 200 Period Moving Avg: What Does This Mean?

Cloudflare Inc. [NYSE: NET] loss -7.06% on the last trading session, reaching $58.09 price per share at the time. The company report on April 10, 2023 at 4:15 PM that Cloudflare Announces Date of First Quarter 2023 Financial Results and Investor Day.

Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced that it will report its financial results for the first quarter ended March 31, 2023 after the U.S. market closes on Thursday, April 27, 2023.

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Cloudflare will host an investor conference call that day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results. Interested parties can access the call by dialing (877) 400-4517 from the United States or (332) 251-2620 internationally with conference ID 3723782.

Cloudflare Inc. represents 328.96 million in outstanding shares, while the company has a total market value of $19.07 billion with the latest information. NET stock price has been found in the range of $57.81 to $61.56.

If compared to the average trading volume of 4.92M shares, NET reached a trading volume of 4204926 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cloudflare Inc. [NET]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NET shares is $72.19 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NET stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

William Blair have made an estimate for Cloudflare Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 19, 2023. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on February 14, 2023, representing the official price target for Cloudflare Inc. stock. Previously, the target price had yet another raise to $52, while Loop Capital analysts kept a Hold rating on NET stock.

The Average True Range (ATR) for Cloudflare Inc. is set at 2.79, with the Price to Sales ratio for NET stock in the period of the last 12 months amounting to 19.55. The Price to Book ratio for the last quarter was 30.57, with the Price to Cash per share for the same quarter was set at 5.03.

Trading performance analysis for NET stock

Cloudflare Inc. [NET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.88. With this latest performance, NET shares gained by 2.56% in over the last four-week period, additionally plugging by 6.82% over the last 6 months – not to mention a drop of -38.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NET stock in for the last two-week period is set at 43.02, with the RSI for the last a single of trading hit 34.84, and the three-weeks RSI is set at 47.06 for Cloudflare Inc. [NET]. The present Moving Average for the last 50 days of trading for this stock 60.14, while it was recorded at 61.73 for the last single week of trading, and 55.23 for the last 200 days.

Cloudflare Inc. [NET]: A deeper dive into fundamental analysis

Cloudflare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.

Cloudflare Inc. [NET]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NET. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cloudflare Inc. go to 47.40%.

An analysis of insider ownership at Cloudflare Inc. [NET]

There are presently around $15,135 million, or 86.60% of NET stock, in the hands of institutional investors. The top three institutional holders of NET stocks are: MORGAN STANLEY with ownership of 31,352,114, which is approximately -5.404% of the company’s market cap and around 0.10% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 26,335,438 shares of the stock with an approximate value of $1.65 billion in NET stocks shares; and VANGUARD GROUP INC, currently with $1.62 billion in NET stock with ownership of nearly 2.306% of the company’s market capitalization.

Positions in Cloudflare Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 300 institutional holders increased their position in Cloudflare Inc. [NYSE:NET] by around 23,890,011 shares. Additionally, 250 investors decreased positions by around 15,285,642 shares, while 89 investors held positions by with 202,988,542 shares. The mentioned changes placed institutional holdings at 242,164,195 shares, according to the latest SEC report filing. NET stock had 76 new institutional investments in for a total of 1,679,363 shares, while 81 institutional investors sold positions of 2,186,023 shares during the same period.


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