Clf stock price today opened at $20

CLF stock price today opened at $20.32, showing mild strength after yesterday’s close at $20. Similarly, the interest rate hikes of 2022 and high inflation that led to tight business budgets didn't fare well for EV/Revenue. Since high interest rates also make it difficult for firms to finance their business operations, and high inflation leads to rising costs, SaaS firms face twice the impact in the form of lower revenue. This is also translated into their EV/Revenue multiples, as for the last 18 months, the median multiple was 7 which is at a multi year low. The lower multiples are accompanied by dropping growth rates, as while the pre pandemic median revenue growth rate of SaaS companies was 30% and accelerated to 33% during the pandemic, it has since dropped and is hovering around 17%. Compared to the Zacks Consensus Estimate of $4.9 billion, the reported revenues represent a surprise of +0.62%. The EPS surprise was +26.47%. CLF stock price today ticked up to $20.50 in mid-morning trade, as buyers stepped in on optimism about stabilized input costs. Traders are watching the $21 resistance zone for potential breakout opportunities.