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

Cloudflare, Inc. (NYSE:NET) has received a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned 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 $135.28.

Several research firms recently issued reports on NET. JMP Securities increased their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Mizuho boosted their price target on Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald lifted their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th.

Cloudflare Price Performance

Shares of NYSE NET opened at $172.78 on Friday. The business has a fifty day moving average price of $122.83 and a two-hundred day moving average price of $98.96. The stock has a market capitalization of $59.30 billion, a PE ratio of -785.36 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $176.73.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities analysts predict that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 581,354 shares of company stock worth $64,625,120. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. Proem Advisors LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at $5,384,000. Pitcairn Co. grew its holdings in Cloudflare by 73.1% in the fourth quarter. Pitcairn Co. now owns 7,267 shares of the company’s stock worth $783,000 after purchasing an additional 3,069 shares during the period. ExodusPoint Capital Management LP bought a new stake in Cloudflare in the fourth quarter valued at $9,284,000. Motley Fool Asset Management LLC raised its holdings in shares of Cloudflare by 7.9% during the fourth quarter. Motley Fool Asset Management LLC now owns 5,055 shares of the company’s stock valued at $544,000 after purchasing an additional 369 shares during the period. Finally, Cinctive Capital Management LP acquired a new position in shares of Cloudflare during the fourth quarter valued at about $13,125,000. 82.68% of the stock is currently owned by institutional investors.

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.