Cloudflare, Inc. (NYSE:NET) Given Average Recommendation of “Hold” by Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have been given an average recommendation of “Hold” by the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $135.64.

Several equities analysts recently issued reports on the company. Scotiabank boosted their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Needham & Company LLC dropped their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Stifel Nicolaus upped their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,223,962.26. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 612,046 shares of company stock worth $79,451,112. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after buying an additional 142 shares in the last quarter. Quarry LP boosted its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare in the 4th quarter worth approximately $43,000. Quest Partners LLC acquired a new position in Cloudflare in the 3rd quarter valued at $54,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Cloudflare during the 4th quarter worth $56,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Down 9.3 %

Cloudflare stock opened at $97.39 on Friday. The stock has a 50-day simple moving average of $136.35 and a 200-day simple moving average of $112.43. The company has a market capitalization of $33.61 billion, a P/E ratio of -442.68 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts expect that Cloudflare will post -0.11 earnings per share for the current year.

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.