Analysts Set Cloudflare, Inc. (NYSE:NET) Target Price at $92.88

Cloudflare, Inc. (NYSE:NET) has earned an average recommendation of “Hold” from the twenty-six brokerages that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $92.88.

Several brokerages have recently weighed in on NET. Mizuho raised their price target on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th.

Cloudflare Price Performance

NET opened at $99.83 on Monday. The stock has a fifty day simple moving average of $90.25 and a two-hundred day simple moving average of $82.52. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $34.26 billion, a price-to-earnings ratio of -383.96 and a beta of 1.10. Cloudflare has a 12-month low of $66.24 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Research analysts predict that Cloudflare will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $17,372,001.96. This represents a 12.91 % decrease in their ownership of the stock. 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 Cloudflare stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 606,952 shares of company stock worth $53,078,202. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently made changes to their positions in the business. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after acquiring an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the third quarter worth about $25,588,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service boosted its stake in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Cloudflare in the second quarter worth about $7,319,000. 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.