Cloudflare (NYSE:NET) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Cloudflare (NYSE:NET) in a research note released on Wednesday morning, Benzinga reports. They currently have a $100.00 price target on the stock.

Several other equities analysts have also issued reports on the company. KeyCorp boosted their price target on Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research note on Friday, February 9th. Truist Financial upped their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a buy rating in a report on Friday, February 9th. Sanford C. Bernstein began coverage on Cloudflare in a report on Thursday, January 18th. They set a market perform rating and a $85.00 price objective on the stock. JMP Securities upped their price objective on Cloudflare from $75.00 to $90.00 and gave the stock a market outperform rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their price target on Cloudflare from $95.00 to $108.00 and gave the company an outperform rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $87.08.

Cloudflare Trading Down 3.3 %

Shares of NYSE:NET opened at $88.05 on Wednesday. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The business has a 50-day moving average of $96.93 and a two-hundred day moving average of $81.59. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. On average, research analysts anticipate that Cloudflare will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $95.29, for a total value of $4,991,671.36. Following the completion of the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $21,975,017.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,055,903 shares of company stock worth $102,487,506. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new stake in Cloudflare in the 1st quarter valued at about $27,000. Sunbelt Securities Inc. acquired a new stake in Cloudflare in the 1st quarter valued at about $29,000. ICA Group Wealth Management LLC acquired a new stake in Cloudflare in the 4th quarter valued at about $38,000. GAMMA Investing LLC acquired a new stake in Cloudflare in the 4th quarter valued at about $39,000. Finally, Providence Capital Advisors LLC lifted its stake in Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares during the last quarter. Institutional investors 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.