Cloudflare, Inc. (NYSE:NET – Get Free Report) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $78.47, for a total transaction of $1,177,050.00. Following the transaction, the chief financial officer now owns 309,937 shares in the company, valued at $24,320,756.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Cloudflare Trading Down 1.7 %
Shares of NET stock opened at $79.28 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $26.94 billion, a P/E ratio of -149.58 and a beta of 1.08. The company has a 50 day moving average price of $77.01 and a 200 day moving average price of $85.35. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00.
Cloudflare (NYSE:NET – Get Free Report) last announced 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. The firm had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Equities research analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
NET has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $81.00 price target (down from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. Guggenheim reaffirmed a “sell” rating and set a $50.00 target price on shares of Cloudflare in a research note on Tuesday. Robert W. Baird reduced their target price on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $82.00 in a research note on Tuesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.96.
Get Our Latest Stock Report on NET
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.
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