Brokerages Set Cloudflare, Inc. (NYSE:NET) Price Target at $136.28

Cloudflare, Inc. (NYSE:NET) has earned an average rating of “Hold” from the twenty-seven research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $136.28.

A number of equities analysts have recently issued reports on NET shares. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Morgan Stanley increased their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research note on Tuesday, February 11th.

Insider Activity at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction 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 sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 623,046 shares of company stock worth $79,594,844. Insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Cloudflare in the third quarter valued at $38,000. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $43,000. Quest Partners LLC purchased a new position in shares of Cloudflare during the third quarter valued at approximately $54,000. Finally, Park Square Financial Group LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at approximately $56,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Down 3.4 %

Shares of NYSE:NET opened at $126.57 on Wednesday. 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 market capitalization of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27. The business has a 50 day simple moving average of $135.81 and a two-hundred day simple moving average of $107.51. Cloudflare has a 1 year low of $66.24 and a 1 year high of $177.37.

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

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.