Brokerages expect Cloudflare, Inc. (NYSE:NET) to post sales of $131.13 million for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Cloudflare's earnings, with the highest sales estimate coming in at $135.10 million and the lowest estimate coming in at $130.23 million. Cloudflare reported sales of $91.25 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.7%. The firm is expected to report its next earnings report on Thursday, May 6th.
On average, analysts expect that Cloudflare will report full year sales of $593.34 million for the current financial year, with estimates ranging from $590.75 million to $608.20 million. For the next financial year, analysts forecast that the company will post sales of $783.49 million, with estimates ranging from $745.00 million to $851.40 million. Zacks' sales calculations are an average based on a survey of research analysts that cover Cloudflare.
Cloudflare (NYSE:NET) last issued its quarterly earnings data on Wednesday, February 10th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The company had revenue of $125.93 million during the quarter, compared to the consensus estimate of $118.22 million. Cloudflare had a negative net margin of 29.17% and a negative return on equity of 12.16%.
NET has been the topic of a number of recent analyst reports. Oppenheimer upped their price target on Cloudflare from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, November 2nd. Wells Fargo & Company upped their price target on Cloudflare from $50.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, November 6th. Morgan Stanley upped their price target on Cloudflare from $81.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Friday, February 12th. They noted that the move was a valuation call. KeyCorp upped their price target on Cloudflare from $87.00 to $99.00 and gave the stock an "overweight" rating in a research report on Friday, February 12th. Finally, Jefferies Financial Group boosted their price objective on shares of Cloudflare from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, February 12th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Cloudflare currently has an average rating of "Buy" and a consensus target price of $67.88.
In other Cloudflare news, CFO Thomas J. Seifert sold 118,832 shares of the company's stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $83.42, for a total value of $9,912,965.44. Also, CEO Matthew Prince sold 52,385 shares of the company's stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $72.95, for a total transaction of $3,821,485.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 766,398 shares of company stock worth $61,989,287. 35.89% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of NET. Glassman Wealth Services acquired a new position in shares of Cloudflare in the third quarter worth about $25,000. Captrust Financial Advisors acquired a new position in shares of Cloudflare in the fourth quarter worth about $33,000. Huntington National Bank acquired a new position in shares of Cloudflare in the fourth quarter worth about $34,000. Parallel Advisors LLC raised its position in shares of Cloudflare by 29.8% in the third quarter. Parallel Advisors LLC now owns 871 shares of the company's stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Eudaimonia Partners LLC acquired a new position in shares of Cloudflare during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 54.76% of the company's stock.
Shares of NET stock opened at $73.97 on Friday. The business's fifty day simple moving average is $81.61 and its 200-day simple moving average is $62.99. The company has a market cap of $22.73 billion, a PE ratio of -189.66 and a beta of -0.02. The company has a current ratio of 8.61, a quick ratio of 8.61 and a debt-to-equity ratio of 0.45. Cloudflare has a 12-month low of $15.05 and a 12-month high of $95.77.
CloudFlare, Inc operates a cloud platform that delivers a range of network services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and Internet of Things (IoT) devices.
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If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.
The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.
As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.
But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.
In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.
View the "7 Stocks That Cathie Wood is Buying And You Should Too"