Cloudflare’s (NET) Neutral Rating Reiterated at Cantor Fitzgerald

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

NET has been the topic of several other reports. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an overweight rating in a report on Friday, February 9th. JMP Securities lifted their target price on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research report on Wednesday, January 31st. Royal Bank of Canada lifted their target price on Cloudflare from $95.00 to $108.00 and gave the company an outperform rating in a research report on Friday, February 9th. DZ Bank downgraded Cloudflare from a buy rating to a hold rating and set a $110.00 target price for the company. in a research report on Tuesday, February 13th. Finally, Truist Financial lifted their target price on Cloudflare from $90.00 to $120.00 and gave the company a buy rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $87.08.

Cloudflare Stock Down 3.0 %

Shares of NET opened at $84.10 on Wednesday. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00. The company’s 50-day moving average price is $96.38 and its 200 day moving average price is $81.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

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

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares in the company, valued at $127,968,332.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cloudflare news, COO Michelle Zatlyn sold 18,955 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.07, for a total value of $1,650,411.85. Following the completion of the sale, the chief operating officer now owns 19,615 shares in the company, valued at $1,707,878.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares of the company’s stock, valued at approximately $127,968,332.16. The disclosure for this sale can be found here. Insiders sold 1,110,707 shares of company stock valued at $107,459,933 over the last three months. 14.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System raised its stake in shares of Cloudflare by 3.1% during the first quarter. Maryland State Retirement & Pension System now owns 23,063 shares of the company’s stock worth $2,233,000 after purchasing an additional 696 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in shares of Cloudflare during the first quarter worth approximately $295,000. Kovack Advisors Inc. raised its stake in shares of Cloudflare by 6.9% during the first quarter. Kovack Advisors Inc. now owns 3,240 shares of the company’s stock worth $314,000 after purchasing an additional 210 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Cloudflare during the first quarter worth approximately $22,652,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other 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.