Cloudflare (NET) Stock Keeps on Promising by Reaching New Highs

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The NET stock price fluctuated between $126.18 and $129.62 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 3M shares.

The share price of Cloudflare, Inc. (NYSE:NET) ran up 1.18% to close Thursday’s market session at $128.36, higher as compared to yesterday’s close which brings the market valuation of the company to $41.07B.

The 52-week high for the Cloudflare, Inc.’s shares is $129.67. That puts it -1.01% from that peak but still a 250.15% 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 30.94%.

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

During the last trading session, Cloudflare, Inc. (NYSE:NET) has seen growth in its daily volume. The daily volume was of 3M, while in the last 10 days the average was 2.26M and last three months – 3.12M.

The increasing interest in the NET stock from the investors is helping to drive the stock price up.

Shrinking short interest

The Cloudflare, Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 11.94M shares being shorted which translates into 3.9 of a short ratio for NET, while in the previous month the shorted shares were 14.88M.

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Cloudflare, Inc.’s (NYSE:NET) financials

With a market cap of 41.07B, Cloudflare, Inc. holds a total cash of $1.03B that translates into $3.31 per share, while the total debt is of $448.4M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 52.90%. The current revenue is of $530.57M that is $1.74 per share.

This is a great sign for a bright future.