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

Shares of Cloudflare, Inc. (NYSE:NET) have been given an average recommendation of “Hold” by the twenty-six brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $91.72.

Several research firms have issued reports on NET. Susquehanna upped their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wolfe Research began coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Cantor Fitzgerald upped their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at $14,632,356.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 519,552 shares of company stock valued at $42,763,195. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. CVA Family Office LLC lifted its stake in 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 purchasing an additional 171 shares during the last quarter. Quarry LP lifted its stake in 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. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare in the 2nd quarter valued at about $29,000. Finally, Versant Capital Management Inc lifted its stake in Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 0.4 %

Shares of NET opened at $89.84 on Thursday. The business’s 50 day simple moving average is $83.43 and its 200-day simple moving average is $80.51. 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 current ratio of 3.51 and a quick ratio of 3.51. The company has a market capitalization of $30.70 billion, a P/E ratio of -169.51 and a beta of 1.10.

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