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 November 22, 2024, NET stock price declined to $104.23 with 2,890,790 million shares trading.

NET has a beta of 2.17, meaning it tends to be more sensitive to market movements. NET has a correlation of 0.27 to the broad based SPY ETF.

NET has a market cap of $35.62 billion. This is considered a Large Cap stock.

Last quarter Cloudflare Class A reported $430 million in Revenue and $.20 earnings per share. This beat revenue expectation by $6 million and exceeded earnings estimates by $.02.

In the last 3 years, NET traded as high as $205.79 and as low as $37.37.

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

NET has outperformed the market in the last year with a price return of +41.5% while the SPY ETF gained +32.4%. NET has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +29.3% and +14.2%, respectively, while the SPY returned +7.4% and -0.4%, respectively.

NET support price is $100.91 and resistance is $107.57 (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 shares will trade within this expected range on the day.