Cloudflare’s (NET) Neutral Rating Reiterated at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of Cloudflare (NYSE:NET) in a research note issued to investors on Monday morning, MarketBeat reports. Robert W. Baird currently has a $140.00 price objective on the stock, up from their prior price objective of $125.00.

NET has been the subject of a number of other research reports. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and boosted their price target for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. UBS Group increased their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Truist Financial lifted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Mizuho increased their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada upped their price target on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $112.32.

Cloudflare Stock Performance

Shares of NET stock opened at $144.14 on Monday. Cloudflare has a one year low of $66.24 and a one year high of $144.30. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a 50 day moving average price of $116.71 and a 200 day moving average price of $95.92. The firm has a market capitalization of $49.47 billion, a price-to-earnings ratio of -554.38 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Sell-side analysts anticipate that Cloudflare will post -0.1 EPS for the current year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 633,738 shares of company stock valued at $69,632,506. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC boosted its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the period. Quarry LP lifted its holdings in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Cloudflare in the third quarter valued at approximately $38,000. Versant Capital Management Inc grew its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. 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.