Cloudflare (NET) Projected to Post Quarterly Earnings on Thursday

Cloudflare (NYSE:NET) is anticipated to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $0.18 per share and revenue of $452.20 million for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. On average, analysts expect Cloudflare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cloudflare Price Performance

Shares of NYSE NET opened at $136.44 on Thursday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $140.25. The firm’s 50-day simple moving average is $113.05 and its 200 day simple moving average is $93.88. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of -524.77 and a beta of 1.10.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at $24,422,966.37. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 641,132 shares of company stock worth $69,429,058 in the last quarter. 12.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NET shares. Piper Sandler upped their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Morgan Stanley increased their price target on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $109.72.

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.