Cloudflare, Inc. (NYSE:NET) Receives $87.50 Consensus PT from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have received an average rating of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $87.08.

A number of research analysts have weighed in on the stock. Capital One Financial started coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Mizuho lowered their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial upped their price target on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Sanford C. Bernstein started coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. Finally, Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th.

Cloudflare Stock Performance

NET opened at $91.04 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The company has a 50 day simple moving average of $96.84 and a two-hundred day simple moving average of $81.55. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00. The firm has a market cap of $30.74 billion, a P/E ratio of -165.52 and a beta of 1.13.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Equities analysts forecast that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares in the company, valued at $17,202,674.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the completion of the sale, the chief executive officer now owns 12,183 shares in the company, valued at approximately $1,152,389.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders sold a total of 1,070,903 shares of company stock valued at $103,653,456 over the last three months. 14.80% of the stock is owned by insiders.

Institutional Trading of Cloudflare

Several large investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in Cloudflare during the 1st quarter valued at about $27,000. Sunbelt Securities Inc. purchased a new stake in Cloudflare in the first quarter worth $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $38,000. GAMMA Investing LLC bought a new position in Cloudflare in the 4th quarter valued at approximately $39,000. Finally, Providence Capital Advisors LLC boosted its holdings in shares of Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after buying an additional 2,426 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.