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

Cloudflare, Inc. (NYSE:NET) has earned an average recommendation of “Hold” from the twenty-three brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $90.96.

A number of equities research analysts recently issued reports on NET shares. Wells Fargo & Company decreased their price objective on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Cloudflare in a report on Tuesday, May 14th. DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, May 7th. Robert W. Baird decreased their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, KeyCorp decreased their price target on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, May 3rd.

Cloudflare Trading Up 3.2 %

NYSE NET opened at $81.79 on Friday. The company has a market capitalization of $27.79 billion, a PE ratio of -154.32 and a beta of 1.08. Cloudflare has a 1-year low of $53.88 and a 1-year high of $116.00. The firm’s fifty day simple moving average is $76.92 and its 200-day simple moving average is $85.33. 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 (NYSE:NET) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Cloudflare will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 8,030 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $79.89, for a total value of $641,516.70. Following the completion of the transaction, the director now owns 1,084,364 shares of the company’s stock, valued at $86,629,839.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $97.16, for a total transaction of $291,480.00. Following the completion of the sale, the insider now owns 205,238 shares of the company’s stock, valued at $19,940,924.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 8,030 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $79.89, for a total transaction of $641,516.70. Following the sale, the director now directly owns 1,084,364 shares of the company’s stock, valued at approximately $86,629,839.96. The disclosure for this sale can be found here. Insiders sold 700,796 shares of company stock valued at $56,919,603 over the last quarter. Corporate insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds have recently modified their holdings of NET. Vanguard Group Inc. increased its holdings in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares in the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after purchasing an additional 1,597,900 shares in the last quarter. Norges Bank acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $221,858,000. Finally, Deutsche Bank AG increased its holdings in shares of Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after purchasing an additional 65,596 shares in the last quarter. Institutional investors and hedge funds 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.