Cloudflare, Inc. (NYSE:NET) Receives $136.28 Consensus PT from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have received an average rating of “Hold” from the twenty-seven ratings firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $136.28.

A number of brokerages recently issued reports on NET. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Susquehanna lifted their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Truist Financial boosted their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $19,489,020.12. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 623,046 shares of company stock valued at $79,594,844 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC grew its stake in shares of Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Cloudflare in the third quarter worth about $212,000. Janney Montgomery Scott LLC raised its stake in shares of Cloudflare by 29.5% in the third quarter. Janney Montgomery Scott LLC now owns 27,023 shares of the company’s stock worth $2,186,000 after buying an additional 6,156 shares during the period. Van ECK Associates Corp raised its stake in Cloudflare by 105.8% during the 3rd quarter. Van ECK Associates Corp now owns 63,182 shares of the company’s stock valued at $5,537,000 after purchasing an additional 32,485 shares during the period. Finally, National Pension Service raised its stake in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

NYSE:NET opened at $126.57 on Wednesday. The firm has a market cap of $43.67 billion, a price-to-earnings ratio of -575.30 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a 52 week low of $66.24 and a 52 week high of $177.37. The firm’s 50-day simple moving average is $135.81 and its 200 day simple moving average is $107.51.

Cloudflare (NYSE:NET) last posted its quarterly 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, sell-side 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.