Cloudflare, Inc. (NYSE:NET) Given Average Recommendation of “Hold” by Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have been given an average recommendation of “Hold” by the twenty-seven research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $136.28.

A number of brokerages have weighed in on NET. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. The Goldman Sachs Group boosted their price target on Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley upped their target price on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,204,267.80. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 597,406 shares of company stock valued at $76,705,729. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of NET. Allspring Global Investments Holdings LLC grew its stake in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after buying an additional 119 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at $212,000. Janney Montgomery Scott LLC grew its holdings in shares of Cloudflare by 29.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,023 shares of the company’s stock valued at $2,186,000 after purchasing an additional 6,156 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Cloudflare by 105.8% during the 3rd quarter. Van ECK Associates Corp now owns 63,182 shares of the company’s stock valued at $5,537,000 after purchasing an additional 32,485 shares during the last quarter. Finally, National Pension Service grew its holdings in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 3.2 %

Shares of NYSE:NET opened at $120.29 on Wednesday. The company has a 50 day moving average price of $135.96 and a two-hundred day moving average price of $107.94. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a market capitalization of $41.51 billion, a PE ratio of -546.78 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Analysts forecast that Cloudflare will post -0.11 earnings per share for the current year.

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.