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

Shares of Cloudflare, Inc. (NYSE:NET) have been assigned a consensus rating of “Hold” from the twenty-eight analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $102.30.

NET has been the topic of a number of recent analyst reports. Scotiabank increased their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Mizuho increased their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,223,962.26. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 592,236 shares of company stock worth $61,512,210. 12.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

Large investors have recently bought and sold shares of the company. Hartline Investment Corp grew its position in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after buying an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare during the 3rd quarter worth about $25,588,000. Charles Schwab Investment Management Inc. raised its position in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service raised its holdings in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Cloudflare in the 2nd quarter worth about $7,319,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 1.8 %

NET stock opened at $110.59 on Tuesday. The business has a 50 day moving average of $105.41 and a 200 day moving average of $90.48. The firm has a market cap of $37.95 billion, a PE ratio of -425.35 and a beta of 1.10. Cloudflare has a twelve month low of $66.24 and a twelve month high of $119.42. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, research analysts forecast that Cloudflare will post -0.1 EPS 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.