Cloudflare, Inc. (NYSE:NET) Receives $92.29 Consensus PT from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have earned an average recommendation of “Hold” from the twenty-six analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $91.20.

Several research analysts have recently weighed in on NET shares. Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Robert W. Baird raised their target price on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $82.00 in a research report on Tuesday, June 25th. Wolfe Research began coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock.

Cloudflare Stock Up 1.1 %

Shares of NET opened at $93.47 on Friday. The stock has a 50 day moving average price of $80.88 and a 200 day moving average price of $81.06. Cloudflare has a one year low of $53.88 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of -322.31 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Equities research analysts forecast that Cloudflare will post -0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Michelle Zatlyn sold 35,117 shares of Cloudflare stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $83.74, for a total value of $2,940,697.58. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $16,092,901.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, COO Michelle Zatlyn sold 35,117 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total transaction of $2,940,697.58. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $16,092,901.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $76.55, for a total value of $4,009,995.20. Following the completion of the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at $823,754.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,784 shares of company stock valued at $33,130,625 in the last three months. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC grew its position in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the last quarter. Riverview Trust Co acquired a new position in Cloudflare in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare during the second quarter worth about $29,000. Finally, Quarry LP lifted its holdings in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Company Profile

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.