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

Shares of Cloudflare, Inc. (NYSE:NET) have received an average rating of “Hold” from the twenty-six ratings firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $92.88.

NET has been the subject of a number of research reports. Mizuho upped their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Piper Sandler upped their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Susquehanna lifted their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Guggenheim increased their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd.

Cloudflare Stock Performance

Cloudflare stock opened at $104.23 on Monday. 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 company has a market capitalization of $35.77 billion, a PE ratio of -400.88 and a beta of 1.10. The company has a 50 day moving average price of $88.21 and a 200-day moving average price of $81.49. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last issued 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). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, equities analysts forecast that Cloudflare will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 546,194 shares of company stock worth $46,804,995. 12.83% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

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

About Cloudflare

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.