Why Cloudflare (NET) is a Top Momentum Stock for the Long-Term
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Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Cloudflare (NET)
Headquartered in San Francisco, CA, Cloudflare Inc. is a global cloud services provider that delivers a suite of deeply integrated products, including website and application services solutions, Cloudflare One, developer-based solutions and consumer offerings.
NET is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.2% over the past one week and up 9.1% over the past four weeks. NET has gained 44% in the last one-year period as well. Looking at trading volume, an average of 2,582,958 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, one analyst revised their earnings estimate higher in the last 60 days for NET, while the Zacks Consensus Estimate has increased $0.01 to $0.71 per share. NET also boasts an average earnings surprise of 37.7%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding NET to their portfolios.
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Cloudflare, Inc. (NET) : Free Stock Analysis Report