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

Shares of Cloudflare, Inc. (NYSE:NET) have been given a consensus rating of “Hold” by the twenty-eight research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $97.81.

A number of analysts recently issued reports on the company. Scotiabank boosted their price target on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $92.00 to $130.00 in a report on Monday, December 2nd.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.00, for a total transaction of $605,000.00. Following the sale, the director now owns 5,927 shares of the company’s stock, valued at $521,576. This trade represents a 53.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 629,592 shares of company stock worth $61,334,450. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC increased its stake in Cloudflare by 18.0% in the 3rd quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock valued at $1,880,000 after buying an additional 3,550 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cloudflare in the third quarter valued at about $204,000. Sanctuary Advisors LLC increased its stake in shares of Cloudflare by 37.2% during the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock worth $1,143,000 after acquiring an additional 3,835 shares during the period. Virtu Financial LLC purchased a new position in Cloudflare during the third quarter worth about $1,268,000. Finally, Advisory Resource Group lifted its position in Cloudflare by 1.6% in the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 0.9 %

Shares of NYSE NET opened at $112.58 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a 50-day simple moving average of $99.05 and a two-hundred day simple moving average of $86.94. Cloudflare has a 1 year low of $66.24 and a 1 year high of $119.42. The company has a market cap of $38.64 billion, a P/E ratio of -433.00 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS 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 company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Research analysts anticipate that Cloudflare will post -0.1 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.