Cloudflare Inc (NYSE:NET) has a beta value of 1.12 and has seen 0.78 million shares traded in the recent trading session. The company, currently valued at $32.29B, closed the recent trade at $95.62 per share which meant it lost -$1.38 on the day or -1.43% during that session. The NET stock price is -21.31% off its 52-week high price of $116.00 and 58.27% above the 52-week low of $39.90. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.41 million shares traded. The 3-month trading volume is 4.05 million shares.
Cloudflare Inc (NYSE:NET) trade information
Sporting -1.43% in the red today, the stock has traded in the green over the last five days, when the NET stock price touched $95.62 or saw a rise of 1.8%. Year-to-date, Cloudflare Inc shares have moved 14.84%, while the 5-day performance has seen it change 1.00%. Over the past 30 days, the shares of Cloudflare Inc (NYSE:NET) have changed -1.49%. Short interest in the company has seen 11.28 million shares shorted with days to cover at 3.05.
Cloudflare Inc (NET) estimates and forecasts
Figures show that Cloudflare Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 50.13% over the past 6 months, with this year growth rate of 18.37%, compared to 19.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 62.50% and 30.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 27.60%.
24 analysts offering their estimates for the company have set an average revenue estimate of $373.08 million for the current quarter. 24 have an estimated revenue figure of $393.42 million for the next quarter concluding in Jun 2024. Year-ago sales stood $290.8 million and $308.49 million respectively for this quarter and the next, and analysts expect sales will grow by 28.30% for the current quarter and 27.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -13.56% over the past 5 years.
NET Dividends
Cloudflare Inc is expected to release its next earnings report on May 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Cloudflare Inc (NYSE:NET)’s Major holders
Insiders own 1.03% of the company shares, while shares held by institutions stand at 86.29% with a share float percentage of 87.18%. Investors are also buoyed by the number of investors in a company, with Cloudflare Inc having a total of 966 institutions that hold shares in the company. The top two institutional holders are Baillie Gifford and Company with over 30.94 million shares worth more than $2.96 billion. As of Dec 30, 2023, Baillie Gifford and Company held 10.37% of shares outstanding.
The other major institutional holder is Morgan Stanley, with the holding of over 30.37 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $2.91 billion and represent 10.18% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Growth Fund Of America Inc and Vanguard Total Stock Market Index Fund. As of Dec 30, 2023, the former fund manager holds about 6.22% shares in the company for having 18.54 million shares of worth $1.78 billion while later fund manager owns 8.84 million shares of worth $847.11 million as of Dec 30, 2023, which makes it owner of about 2.96% of company’s outstanding stock.
