Cloudflare, Inc. (NYSE:NET): Should Value Hunters Buy It?

The trading price of Cloudflare, Inc. (NYSE:NET) closed higher on Tuesday, Apr 06, closing at $71.17, 1.46% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $70.80 and $73.73. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $95.77 and a 52-week low of $21.18. Over the past month, the stock has gained 7.73% in value.

Cloudflare, Inc., whose market valuation is $21.82 Billion at the time of this writing, is expected to release its quarterly earnings report on May 06, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.03 per share this quarter, however they have predicted annual earnings per share of -$0.08 for 2021 and $0.01 for 2022. It means analysts are expecting annual earnings per share growth of -0.33% this year and -1.13% next year.

On the technical side, indicators suggest NET has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned NET a recommendation rating is 14. Out of them, 3 rate it a Hold, while 10 recommend Buy, whereas 1 assign an Outperform rating. None analyst(s) have tagged Cloudflare, Inc. (NET) as Underperform, while not any of them advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that NET’s price is currently 2.24% off the SMA20 and -5.49% off the SMA50. The RSI metric on the 14-day chart is currently showing 50.49, and weekly volatility stands at 4.68%. When measured over the past 30 days, the indicator reaches 5.69%. Cloudflare, Inc. (NYSE:NET)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 4.23. With analysts defining $88-$110 as the low and high price targets, we arrive at a consensus price target of $100.38 for the trailing 12-month period. The current price is about 21.87% off the estimated low and 52.33% off the forecast high, based on this estimate. Investors will be thrilled if NET’s share price rises to $102, which is the median consensus price. At that level, NET’s share price would be +41.25% above current price.

To see how Cloudflare, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: NET stock’s performance was +1.46% in the latest trading, and +199.88% in the past year, while Paypal Holdings (PYPL) has traded +0.86% on the day and positioned +174.04% higher than it was a year ago. Another comparable company Square (SQ) saw its stock close 2.85% higher in the most recent trading session but was up +440.94% in a year. Furthermore, Zoom Video Communications Cl A (ZM) showed an increase of 1.46% on the day while its price kept rising at 199.88% over the past year. Cloudflare, Inc. has a P/E ratio of 0, compared to Paypal Holdings 71.56 and Square’s 821.18. Also in last trading session, the S&P 500 Index has soared -0.1%, while the Dow Jones Industrial also saw a negative seesion, down -0.29% on the day.

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An evaluation of the daily trading volume of Cloudflare, Inc. (NYSE:NET) indicates that the 3-month average is 4.41 Million. However, this figure has declined over the past 10 days to an average of 2.67 Million.

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Currently, records show that 250.3 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 6.18% of outstanding shares, whereas institutions hold 77.15%. The stats also highlight that short interest as of March 14, 2021, stood at 12.6 Million shares, resulting in a short ratio of 2.28 at that time. From this, we can conclude that short interest is 4.08% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 11.09 Million. However, since the stock’s price has seen -4.97% year-to-date, investors’ interest is likely to be reignited due to its potential to move higher ahead.

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