NET Stock Summary and Trading Ideas (Cloudflare Class A | NYSE:NET)

Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.

Cloudflare Class A trades on the NYSE stock market under the symbol NET.

As of April 17, 2024, NET stock price declined to $88.00 with 2,412,249 million shares trading.

NET has a beta of 2.72, meaning it tends to be more sensitive to market movements. NET has a correlation of 0.26 to the broad based SPY ETF.

NET has a market cap of $29.71 billion. This is considered a Large Cap stock.

Last quarter Cloudflare Class A reported $362 million in Revenue and $.15 earnings per share. This beat revenue expectation by $9 million and exceeded earnings estimates by $.03.

In the last 3 years, NET stock traded as high as $221.64 and as low as $37.37.

The top ETF exchange traded funds that NET belongs to (by Net Assets): VTI, VO, VXF, VUG, VOT.

NET has outperformed the market in the last year with a return of +36.1%, while the SPY ETF gained +23.0%. In the last 3 month period, NET beat the market returning +12.2%, while SPY returned +5.7%. However, in the most recent 2 weeks NET has underperformed the stock market by returning -7.3%, while SPY returned -3.5%.

NET support price is $88.77 and resistance is $93.31 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NET stock will trade within this expected range on the day.