Cloudflare, Inc. (NYSE:NET) Receives $135.64 Consensus Price Target from Analysts

Cloudflare, Inc. (NYSE:NET) has been assigned a consensus rating of “Hold” from the twenty-seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $135.64.

Several research firms have recently weighed in on NET. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Mizuho decreased their price objective on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Stifel Nicolaus increased their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 33,864 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $30,192,558.60. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,046 shares of company stock valued at $79,451,112 in the last 90 days. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after acquiring an additional 142 shares in the last quarter. Quarry LP increased its position in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare during the 4th quarter worth $43,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter worth $54,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Cloudflare during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Down 9.3 %

Shares of Cloudflare stock opened at $97.39 on Friday. The stock has a market cap of $33.61 billion, a PE ratio of -442.68 and a beta of 1.59. The firm has a fifty day moving average price of $136.35 and a 200 day moving average price of $112.43. Cloudflare has a 1 year low of $66.24 and a 1 year high of $177.37. 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 (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts predict that Cloudflare will post -0.11 earnings per share 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.