S&P 500 Futures Rise in Premarket Trading; COPT Defense Properties, Unity Software Lead
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2025
0mins
Should l Buy NET?
Source: Barron's
Market Performance: COPT Defense Properties and Unity Software Inc. saw significant pre-market gains of 9.8% and 9.2%, respectively, while McCormick & Co. and Moog Inc. experienced declines of 3.0% and 2.6%. S&P 500 futures rose by 0.99%.
Commodities and Global Markets: Brent crude oil and gold futures increased by 1.30% and 0.50%, respectively, while Bitcoin climbed to $96,650. In Asia, the Shanghai Composite Index fell by 2.66%, but European stocks showed slight gains in afternoon trading.
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Analyst Views on NET
Wall Street analysts forecast NET stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NET is 253.24 USD with a low forecast of 131.00 USD and a high forecast of 318.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
15 Buy
10 Hold
0 Sell
Moderate Buy
Current: 189.410
Low
131.00
Averages
253.24
High
318.00
Current: 189.410
Low
131.00
Averages
253.24
High
318.00
About NET
Cloudflare, Inc. is a connectivity cloud company. Its full suite of products consists of its website and application services to deliver security, performance, and reliability for an organization's websites, applications, and application programming interfaces (APIs); its secure access service edge (SASE) platform, which contains its suite of Zero Trust and network services solutions to help ensure traffic in and out of an organization’s internal network and devices is verified and authorized as well as to securely connect data centers, cloud services, and branch offices to an organization with its Connectivity Cloud; its developer-based solutions to build and deploy serverless applications with scale, performance, security and reliability, and its consumer offerings. Its website and application security product offerings include Web Application Firewall, Bot Management, Distributed Denial of Service Protection, API Security, SSL/TLS Encryption, Script Management, and Security Center.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Interest Rate Expectations Shift: Following the robust employment report, the market's expectation for a Fed rate cut next month dropped from 23% to 6%, with the 10-year T-note yield rising by 3 basis points to 4.17%, reflecting a cautious outlook on future monetary policy.
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- Enhanced Profitability: Adjusted net income soared 55% to $106.8 million, translating to $0.28 per share, slightly exceeding Wall Street's estimate of $0.27, reflecting the company's success in cost management and revenue growth.
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- Strong Employment Data: US nonfarm payrolls rose by 130,000 in January, exceeding expectations of 65,000, while the unemployment rate unexpectedly fell by 0.1% to 4.3%, indicating labor market stability that could influence Fed policy decisions.
- Interest Rate Expectations Shift: Following the stronger-than-expected jobs report, the 10-year T-note yield increased by 3 basis points to 4.17%, with market expectations for a Fed rate cut next month dropping from 23% to 8%, reflecting investor caution regarding future monetary policy.
- Corporate Earnings Performance: So far, 78% of the 319 S&P 500 companies have reported earnings that beat expectations, with Q4 earnings growth projected at 8.4%, demonstrating corporate resilience that may support the stock market.
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