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 December 20, 2024, NET stock price climbed to $112.69 with 3,920,383 million shares trading.

NET has a beta of 1.97, meaning it tends to be more sensitive to market movements. NET has a correlation of 0.24 to the broad based SPY ETF.

NET has a market cap of $38.51 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 $145.26 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 +36.0% while the SPY ETF gained +27.8%. NET has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +36.7% and -0.2%, respectively, while the SPY returned +4.4% and -2.4%, respectively.

NET support price is $105.28 and resistance is $111.88 (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.