Is The Chart On Cloudflare, Inc. (NET) Overextended?

Cloudflare, Inc. (NET) has seen some recent action in the market and its stock closed at $29.49 on friday. Investors are starting to take interest of NET as the stock traded as high as $30.78 and as low as $27.82 in the previous market trading day.

Cloudflare, Inc. (NET) average trading volume is 4.04M. However, in the previous market trading day Cloudflare, Inc. (NET) traded 9,385,746 shares. The 1st downside support level on NET is $28.21 and the 1st resistance level on NET is $29.52. NET fifty day moving average is $24.73 and NET 200day moving average is $20.07.

Cloudflare, Inc. (NET) most current performance has been shown by the recent movement in NET stock. NET has performed 16.01% over the past 30 days, NET has performed 66.14% over the past quarter. Cloudflare, Inc. (NET) has a 12 month range of $14.50 to $30.78. Cloudflare, Inc. (NET) is trading 103.38% from its 12 month low and -2.48% from its 12 month high. Cloudflare, Inc. (NET) is showing a 2.40% short float showing the amount short in the float.

NET has 296.08M shares outstanding and 152.48M shares in the float. Cloudflare, Inc. (NET) currently has a market cap of $8.51B and income of $-121.50M. The EPS next quarter for NET is -0.06 and anticipated EPS net year is 30.00%. The market cap of Cloudflare, Inc. (NET) at $8.51B signifies how many Investors own shares of NET and is calculated off the last price ($29.49) of NET and the amount of shares outstanding (296.08M) with Cloudflare, Inc. (NET).

Cloudflare, Inc. (NET) has total cash (mrq) of 587.85M, total cash per share (mrq) of 1.94, total debt of NET is at 50.8M and total debt/equity (mrq) is 7.19. Cloudflare, Inc. (NET) operating cash flow (ttm) is -43.5M and NET leveraged free cash flow (ttm) is -42.37M.

NET is trading 16.47% above (bullish) its SMA20, 26.69% above (bullish) its SMA50 and 51.41% above (bullish) its SMA200.

Recent News:

In recent news, on May 13, 2020, it was announced, Cloudflare, Inc. Announces Pricing of Offering of $500 Million of 0.75% Convertible Senior Notes Due 2025. In this news it stated, Cloudflare, Inc. (“Cloudflare”) (NYSE: NET) announced the pricing of $500 million aggregate principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private offering (the “offering”) to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Cloudflare also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on May 15, 2020, subject to customary closing conditions, and is expected to result in approximately $488.2 million in net proceeds to Cloudflare after deducting the initial purchasers’ discount and estimated offering expenses payable by Cloudflare (assuming no exercise of the initial purchasers’ option to purchase additional notes). The notes will be senior, unsecured obligations of Cloudflare. The notes will bear interest at a rate of 0.75% per year. Interest will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2020. The notes will mature on May 15, 2025, unless earlier redeemed, repurchased, or converted. Cloudflare may not redeem the notes prior to May 20, 2023. Cloudflare may redeem for cash all or any portion of the notes, at its option, on or after May 20, 2023, if the last reported sale price of Cloudflare’s Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on and including the trading day preceding the date on which Cloudflare provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the notes, which means that Cloudflare is not required to redeem or retire the notes periodically. Holders of the notes will have the right to require Cloudflare to repurchase for cash all or a portion of their notes upon the occurrence of a fundamental change (as defined in the indenture governing the notes) at a purchase price of 100% of their principal amount plus any accrued and unpaid interest.