Cloudflare (NYSE:NET) Lowered to “Hold” Rating by Baird R W

Baird R W cut shares of Cloudflare (NYSE:NET) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other analysts also recently weighed in on NET. Mizuho lifted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley raised their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Finally, BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $112.32.

Cloudflare Price Performance

Cloudflare stock opened at $136.88 on Monday. The company has a fifty day simple moving average of $115.06 and a 200-day simple moving average of $95.15. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $46.98 billion, a price-to-earnings ratio of -526.47 and a beta of 1.12. Cloudflare has a 52-week low of $66.24 and a 52-week high of $142.41.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities analysts anticipate that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $21,403,676.25. This represents a 12.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. This represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 616,257 shares of company stock valued at $67,256,408. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. increased its position in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. grew its stake in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC increased its position in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after acquiring an additional 105 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Wealth Management Partners LLC boosted its position in Cloudflare by 3.3% during the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after purchasing an additional 114 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.