Cloudflare, Inc. (NYSE:NET) Receives Consensus Recommendation of “Hold” from Analysts

Cloudflare, Inc. (NYSE:NET) has earned an average recommendation of “Hold” from the twenty-three brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $90.96.

A number of equities research analysts recently weighed in on the company. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Tuesday, May 7th. TD Cowen dropped their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Guggenheim reaffirmed a “sell” rating and set a $50.00 price objective on shares of Cloudflare in a research report on Tuesday, June 25th. The Goldman Sachs Group lowered their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Finally, Wells Fargo & Company lowered their price target on Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 3rd.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $85.05 on Friday. The firm has a market cap of $28.90 billion, a P/E ratio of -160.47 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare has a 12 month low of $53.88 and a 12 month high of $116.00. The stock’s fifty day moving average price is $76.82 and its 200-day moving average price is $85.44.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. On average, equities research analysts expect that Cloudflare will post -0.19 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total transaction of $5,030,959.36. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at $22,147,976.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at $29,453,572.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total value of $5,030,959.36. Following the completion of the sale, the chief executive officer now owns 230,612 shares of the company’s stock, valued at $22,147,976.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 677,805 shares of company stock worth $54,700,869. 12.83% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

A number of institutional investors have recently made changes to their positions in NET. LPL Financial LLC boosted its stake in shares of Cloudflare by 5.3% in the third quarter. LPL Financial LLC now owns 114,510 shares of the company’s stock worth $7,219,000 after acquiring an additional 5,806 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Cloudflare in the third quarter worth approximately $325,000. Vinva Investment Management Ltd boosted its stake in shares of Cloudflare by 13.1% in the third quarter. Vinva Investment Management Ltd now owns 6,639 shares of the company’s stock worth $419,000 after acquiring an additional 771 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Cloudflare in the third quarter worth approximately $1,615,000. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Cloudflare by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 129,801 shares of the company’s stock worth $8,183,000 after acquiring an additional 530 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.