Cloudflare (NET) Projected to Post Earnings on Thursday

Cloudflare (NYSE:NET) will likely be posting its quarterly earnings results after the market closes on Thursday, February 6th. Analysts expect Cloudflare to post earnings of $0.18 per share and revenue of $452.20 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

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

Cloudflare Stock Performance

Shares of NET stock opened at $136.44 on Thursday. The company has a market cap of $46.82 billion, a price-to-earnings ratio of -524.77 and a beta of 1.10. Cloudflare has a 52 week low of $66.24 and a 52 week high of $140.25. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $113.05 and a 200-day moving average of $93.88.

Insider Activity at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $21,403,676.25. This represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 641,132 shares of company stock worth $69,429,058 in the last three months. 12.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent research reports. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $145.00 in a report on Friday, January 17th. UBS Group lifted their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Scotiabank lifted their target price on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $140.00 in a report on Thursday, January 2nd. Finally, Cantor Fitzgerald initiated coverage on Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.