Cloudflare, Inc. (NYSE:NET) Receives Average Rating of “Hold” from Analysts

Cloudflare, Inc. (NYSE:NET) has been assigned an average rating of “Hold” from the twenty-six analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $107.00.

Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and increased their price target for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $145.00 in a research note on Friday.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 524,852 shares of company stock valued at $55,386,256. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Institutional investors have recently made changes to their positions in the company. Atomi Financial Group Inc. boosted its stake 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 boosted its stake 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 boosted its stake 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 lifted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its stake in shares of Cloudflare by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Up 2.0 %

NYSE NET opened at $117.13 on Tuesday. The stock’s 50 day moving average is $107.72 and its 200 day moving average is $91.49. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 12 month low of $66.24 and a 12 month high of $121.02. The stock has a market cap of $40.20 billion, a PE ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting 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 company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Research analysts predict that Cloudflare will post -0.1 EPS for the current fiscal year.

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.