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

Shares of Cloudflare, Inc. (NYSE:NET) have been given a consensus recommendation of “Hold” by the twenty-eight research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $97.81.

Several research analysts have issued reports on NET shares. Wells Fargo & Company increased their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and boosted their price target for the company from $95.00 to $136.00 in a research report on Tuesday. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $19,572,040.44. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,284,303.57. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 524,824 shares of company stock valued at $49,553,288 over the last quarter. 12.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after buying an additional 119 shares during the last quarter. Quarry LP raised its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Cloudflare by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Cloudflare by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after purchasing an additional 137 shares in the last quarter. Finally, Forum Financial Management LP raised its position in shares of Cloudflare by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 0.5 %

Shares of NYSE NET opened at $108.58 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a one year low of $66.24 and a one year high of $119.42. The business has a 50-day moving average price of $97.98 and a two-hundred day moving average price of $85.94. The firm has a market capitalization of $37.26 billion, a PE ratio of -417.62 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, analysts predict that Cloudflare will post -0.1 earnings per share for the current fiscal year.

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.