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

Cloudflare, Inc. (NYSE:NET) has been assigned an average recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $135.64.

Several brokerages have issued reports on NET. Oppenheimer started coverage on Cloudflare in a research note on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Susquehanna increased their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research note on Tuesday, February 11th. Finally, Bank of America upgraded Cloudflare from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th.

Cloudflare Stock Down 3.1 %

Shares of Cloudflare stock opened at $114.89 on Friday. Cloudflare has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a market capitalization of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a 50-day moving average of $137.47 and a 200-day moving average of $111.56.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities analysts forecast that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at $48,509,881.42. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares of the company’s stock, valued at $35,229,840. This trade represents a 3.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 618,046 shares of company stock worth $80,142,792 in the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

A number of hedge funds have recently modified their holdings of the business. CreativeOne Wealth LLC raised its position in shares of Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after purchasing an additional 58 shares during the period. Stratos Wealth Partners LTD. grew its stake in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares during the period. Baxter Bros Inc. lifted its position in Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after acquiring an additional 100 shares during the last quarter. Finally, Ellevest Inc. boosted its holdings in Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares during the period. 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.