Cloudflare (NYSE:NET) Stock Rating Upgraded by UBS Group

Cloudflare (NYSE:NET) was upgraded by investment analysts at UBS Group from a “sell” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $82.00 target price on the stock, up from their prior target price of $76.00. UBS Group’s price objective would suggest a potential upside of 4.33% from the company’s previous close.

NET has been the topic of a number of other research reports. Royal Bank of Canada decreased their target price on Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price objective on shares of Cloudflare in a report on Tuesday, May 14th. Bank of America boosted their target price on shares of Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, May 7th. Finally, Citigroup cut their price objective on Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.96.

Cloudflare Stock Up 0.8 %

Shares of NET opened at $78.60 on Tuesday. The stock’s 50-day moving average price is $77.40 and its 200-day moving average price is $85.37. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of -148.30 and a beta of 1.08. Cloudflare has a 52 week low of $53.88 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, sell-side analysts predict that Cloudflare will post -0.19 EPS for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $94.91, for a total value of $1,423,650.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $32,124,092.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $94.91, for a total value of $1,423,650.00. Following the completion of the transaction, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at approximately $32,124,092.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Katrin Suder sold 574 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total transaction of $38,521.14. Following the sale, the director now owns 51,162 shares in the company, valued at $3,433,481.82. The disclosure for this sale can be found here. Insiders sold a total of 702,759 shares of company stock valued at $57,278,985 in the last 90 days. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently bought and sold shares of the business. Cigna Investments Inc. New lifted its position in Cloudflare by 4.2% in the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after acquiring an additional 129 shares during the last quarter. Yousif Capital Management LLC grew its stake in Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after buying an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after acquiring an additional 132 shares during the period. Quent Capital LLC grew its position in shares of Cloudflare by 8.1% during the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares during the last quarter. Finally, Soltis Investment Advisors LLC raised its position in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.