Brokerages Set Cloudflare, Inc. (NYSE:NET) PT at $136.28

Cloudflare, Inc. (NYSE:NET) has earned an average rating of “Hold” from the twenty-seven analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $136.28.

NET has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler lifted their price objective on Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Morgan Stanley lifted their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. UBS Group boosted their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th.

Insider Buying and Selling

In related news, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 623,046 shares of company stock valued at $79,594,844. Insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare during the fourth quarter valued at about $43,000. Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $38,000. Quarry LP grew its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Park Square Financial Group LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $56,000. Finally, Larson Financial Group LLC grew its stake in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Down 3.4 %

NET opened at $126.57 on Wednesday. Cloudflare has a one year low of $66.24 and a one year high of $177.37. 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 $135.49 and its 200-day moving average is $107.04. The company has a market capitalization of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts predict that Cloudflare will post -0.11 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.