Cloudflare, Inc. (NYSE:NET) Receives $92.88 Average Price Target from Brokerages

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

A number of equities analysts have issued reports on the company. Guggenheim upped their target price on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Susquehanna boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Mizuho lifted their target price on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th.

Cloudflare Stock Performance

Cloudflare stock opened at $99.38 on Monday. 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 stock has a market cap of $34.11 billion, a PE ratio of -381.65 and a beta of 1.10. Cloudflare has a 12-month low of $66.24 and a 12-month high of $116.00. The business’s 50-day moving average price is $89.15 and its two-hundred day moving average price is $81.98.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, analysts expect that Cloudflare will post -0.11 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 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 value of $244,590.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michelle Zatlyn sold 35,118 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 606,952 shares of company stock worth $53,078,202. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NET. CVA Family Office LLC increased its stake in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cloudflare during the second quarter worth $29,000. Quarry LP lifted its holdings in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Versant Capital Management Inc boosted its position in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. 82.68% of the stock is owned by institutional investors.

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.