Cloudflare Inc [NET] moved up 4.61: Why It’s Important

Cloudflare Inc [NYSE: NET] stock went on an upward path that rose over 4.61% on Thursday, amounting to a one-week price decrease of less than -4.69%. The company report on February 8, 2024 at 4:25 PM that Cloudflare Appoints Mark Anderson as President of Revenue.

Industry veteran with proven track record of scaling revenue across multiple enterprise technology companies to accelerate next chapter of growth.

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Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced the appointment of Mark Anderson, a current member of Cloudflare’s Board of Directors, as President of Revenue to further accelerate the company’s next phase of growth at scale to $5 billion in annual recurring revenue and beyond. Anderson most recently served as the CEO of Alteryx (NYSE: AYX) and brings 25+ years of experience building high performing teams and scaling revenue at multiple enterprise technology companies.

Over the last 12 months, NET stock rose by 60.59%. The one-year Cloudflare Inc stock forecast points to a potential upside of 3.26. The average equity rating for NET stock is currently 2.53, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $33.36 billion, with 298.09 million shares outstanding and 289.23 million shares in the current float. Compared to the average trading volume of 4.05M shares, NET stock reached a trading volume of 4061968 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $102.82 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 2.53. 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.

DZ Bank have made an estimate for Cloudflare Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 13, 2024. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on February 09, 2024, representing the official price target for Cloudflare Inc stock. Previously, the target price had yet another raise to $85, while Bernstein analysts kept a Mkt Perform rating on NET stock.

The Average True Range (ATR) for Cloudflare Inc is set at 5.15, with the Price to Sales ratio for NET stock in the period of the last 12 months amounting to 25.72. The Price to Book ratio for the last quarter was 44.00, with the Price to Cash per share for the same quarter was set at 5.00. Price to Free Cash Flow for NET in the course of the last twelve months was 279.23 with Quick ratio for the last quarter at 3.50.

NET Stock Performance Analysis:

Cloudflare Inc [NET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.69. With this latest performance, NET shares gained by 18.52% in over the last four-week period, additionally plugging by 66.34% over the last 6 months – not to mention a rise of 60.59% 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 60.31, with the RSI for the last a single of trading hit 59.57, and the three-weeks RSI is set at 60.42 for Cloudflare Inc [NET]. The present Moving Average for the last 50 days of trading for this stock 85.23, while it was recorded at 98.46 for the last single week of trading, and 69.32 for the last 200 days.

Insight into Cloudflare Inc Fundamentals:

Cloudflare Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.50.

NET Stock EPS

With the latest financial reports released by the company, Cloudflare Inc posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 166.70%. 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] Institutonal Ownership Details

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%.