Cloudflare, Inc. (NYSE:NET) Receives $97.81 Consensus Price Target from Brokerages

Shares of Cloudflare, Inc. (NYSE:NET) have received an average rating of “Hold” from the twenty-eight ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $97.81.

Several equities analysts have recently weighed in on NET shares. Mizuho upped their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. BNP Paribas started coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. UBS Group upped their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th.

Cloudflare Stock Performance

Shares of NET stock opened at $112.58 on Friday. The business’s 50 day simple moving average is $99.05 and its 200 day simple moving average is $86.94. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a one year low of $66.24 and a one year high of $119.42. The stock has a market capitalization of $38.64 billion, a PE ratio of -433.00 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results 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 business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, research analysts forecast that Cloudflare will post -0.1 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,284,303.57. This represents a 5.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, December 20th. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the transaction, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 629,592 shares of company stock worth $61,334,450 in the last ninety days. 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 NET. CVA Family Office LLC boosted its position in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP grew its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quest Partners LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at approximately $54,000. Finally, Blue Trust Inc. grew its stake in shares of Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 752 shares in the last quarter. 82.68% of the stock is owned by 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.