Cloudflare (NYSE:NET) Stock Getting to Its All Time Highs

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The NET stock price fluctuated between $119.11 and $122.77 throughout the trading session with the volume trading being 2M shares, which represented a negative variation when compared to the three months average volume of 4M shares.

The share price of Cloudflare, Inc. (NYSE:NET) ran up 0.53% to close Thursday’s market session at $120.39, higher as compared to yesterday’s close which brings the market valuation of the company to $37.4B.

The 52-week high for the Cloudflare, Inc.’s shares is $122.77. That puts it -1.94% from that peak but still a tremendous gain since the share price dropped to a 52-week low of $32.69, while the S&P 500’s share price change was of 35%.

What does the trading volume tell us about the NET stock?

During the last trading session, Cloudflare, Inc. (NYSE:NET) has seen decay in its daily volume. The daily volume was of 4M, while in the last 10 days the average was 2.3M and last three months – 3.59M.
The decreasing interest in the NET stock from the investors is helping to drive the stock price down.

Growing short interest

The Cloudflare, Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 15.46M shares being shorted which translates into 3.54 of a short ratio for NET, while in the previous month the shorted shares were 13.61M.

Cloudflare, Inc. (NYSE:NET) financials

With a market cap of 37.4B, Cloudflare, Inc. holds a total cash of $1.04B that translates into $3.33 per share, while the total debt is of $435.86M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 51.30%. The current revenue is of $477.86M that is $1.58 per share.
This is a great sign for a bright future.