Cloudflare Inc [NET] moved down -4.71: Why It’s Important

Cloudflare Inc [NYSE: NET] closed the trading session at $79.05. The company report on January 9, 2024 at 4:15 PM that Cloudflare Announces Date of Fourth Quarter 2023 Financial Results.

Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced that it will report its financial results for the fourth quarter ended December 31, 2023 after the U.S. market closes on Wednesday, February 08, 2024.

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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.

The stocks have a year to date performance of -5.06 percent and weekly performance of -3.98 percent. The stock has been moved at 15.18 percent over the last six months. The stock has performed -5.06 percent around the most recent 30 days and changed 41.46 percent over the most recent 3-months.

If compared to the average trading volume of 3.45M shares, NET reached to a volume of 3830454 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $76.56 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 2.52. 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.

Bernstein have made an estimate for Cloudflare Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on January 18, 2024.

The Average True Range (ATR) for Cloudflare Inc is set at 3.09, with the Price to Sales ratio for NET stock in the period of the last 12 months amounting to 21.95. The Price to Book ratio for the last quarter was 37.95, with the Price to Cash per share for the same quarter was set at 4.69. Price to Free Cash Flow for NET in the course of the last twelve months was 259.18 with Quick ratio for the last quarter at 3.89.

NET stock trade performance evaluation

Cloudflare Inc [NET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.98. With this latest performance, NET shares dropped by -5.06% in over the last four-week period, additionally plugging by 15.18% over the last 6 months – not to mention a rise of 58.19% 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 46.74, with the RSI for the last a single of trading hit 43.22, and the three-weeks RSI is set at 49.42 for Cloudflare Inc [NET]. The present Moving Average for the last 50 days of trading for this stock 79.82, while it was recorded at 81.67 for the last single week of trading, and 66.37 for the last 200 days.

Cloudflare Inc [NET]: An insightful look at the core fundamentals

Cloudflare Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.89 and a Current Ratio set at 3.89.

Earnings per share (EPS) analysis for Cloudflare Inc [NET] stock

With the latest financial reports released by the company, Cloudflare Inc posted 0.06/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. 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.

Cloudflare Inc [NET]: Institutional Ownership

The top three institutional holders of NET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NET stock with ownership which is approximately 5.8325%.