Cloudflare (NYSE:NET) Upgraded at Citigroup

Citigroup upgraded shares of Cloudflare (NYSE:NET) from a neutral rating to a buy rating in a research report sent to investors on Friday morning, Marketbeat.com reports. Citigroup currently has $145.00 price objective on the stock, up from their previous price objective of $95.00.

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. UBS Group raised their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price objective on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Scotiabank lifted their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, Mizuho upped their price target on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $107.00.

Cloudflare Trading Up 2.0 %

Shares of NET stock opened at $117.13 on Friday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $121.02. 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’s fifty day moving average is $107.72 and its two-hundred day moving average is $91.54. The firm has a market capitalization of $40.20 billion, a P/E ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting 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 firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Research analysts expect that Cloudflare will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.00, for a total transaction of $605,000.00. Following the completion of the transaction, the director now directly owns 5,927 shares of the company’s stock, valued at $521,576. This trade represents a 53.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,852 shares of company stock valued at $55,386,256 in the last ninety days. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in shares of Cloudflare by 19.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 32,153 shares of the company’s stock valued at $3,462,000 after buying an additional 5,130 shares during the period. Daymark Wealth Partners LLC boosted its holdings in Cloudflare by 6.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 4,535 shares of the company’s stock valued at $488,000 after acquiring an additional 257 shares during the last quarter. MCF Advisors LLC acquired a new stake in Cloudflare in the fourth quarter worth about $123,000. Atomi Financial Group Inc. raised its holdings in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Cloudflare during the 4th quarter valued at about $259,000. 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.