Cloudflare (NYSE:NET) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Cloudflare (NYSE:NET) in a report released on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $111.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and raised their price objective for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Piper Sandler lifted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Finally, Jefferies Financial Group raised their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $107.00.

Cloudflare Stock Up 2.0 %

NET opened at $117.13 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a 1 year low of $66.24 and a 1 year high of $121.02. The firm has a 50 day moving average price of $107.72 and a 200 day moving average price of $91.54. The company has a market cap of $40.20 billion, a PE ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company 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%. Sell-side analysts expect that Cloudflare will post -0.1 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $18,212,582.70. This trade represents a 16.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,223,962.26. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,852 shares of company stock worth $55,386,256 over the last 90 days. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Atomi Financial Group Inc. increased its holdings in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the last quarter. Wealth Management Partners LLC increased its holdings in Cloudflare by 3.3% during the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after buying an additional 114 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after buying an additional 119 shares during the last quarter. Quarry LP increased its holdings in Cloudflare by 38.6% during 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. Finally, Elo Mutual Pension Insurance Co increased 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 buying an additional 136 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.