Cloudflare, Inc. (NYSE:NET) Receives Average Recommendation of “Hold” from Analysts

Shares of Cloudflare, Inc. (NYSE:NETGet Rating) have been assigned an average rating of “Hold” from the twenty-five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $130.38.

NET has been the subject of a number of recent research reports. Needham & Company LLC dropped their price target on shares of Cloudflare from $245.00 to $100.00 and set a “na” rating for the company in a research note on Monday, May 16th. Citigroup dropped their price target on shares of Cloudflare from $120.00 to $95.00 in a research note on Friday, May 6th. Zacks Investment Research downgraded shares of Cloudflare from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Morgan Stanley boosted their price objective on shares of Cloudflare from $91.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Finally, Cowen decreased their price objective on shares of Cloudflare from $250.00 to $200.00 in a report on Monday, May 2nd.

Shares of NYSE NET opened at $55.06 on Thursday. Cloudflare has a 1-year low of $50.03 and a 1-year high of $221.64. The company has a market cap of $17.96 billion, a PE ratio of -66.34 and a beta of 1.06. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 2.78. The company has a 50-day moving average of $81.59 and a two-hundred day moving average of $106.68.

Cloudflare (NYSE:NETGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $212.20 million during the quarter, compared to the consensus estimate of $205.66 million. Cloudflare had a negative net margin of 35.83% and a negative return on equity of 17.74%. Cloudflare’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. As a group, equities research analysts forecast that Cloudflare will post -0.41 earnings per share for the current year.

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $54.66, for a total value of $2,863,309.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 450 shares of the business’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $128.40, for a total transaction of $57,780.00. Following the completion of the sale, the director now directly owns 9,063 shares in the company, valued at approximately $1,163,689.20. The disclosure for this sale can be found here. Insiders sold 477,401 shares of company stock valued at $46,608,795 in the last quarter. Corporate insiders own 20.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Cloudflare by 3.6% during the fourth quarter. International Assets Investment Management LLC now owns 2,987 shares of the company’s stock worth $393,000 after acquiring an additional 104 shares in the last quarter. Signaturefd LLC raised its position in Cloudflare by 1.2% during the first quarter. Signaturefd LLC now owns 10,606 shares of the company’s stock worth $1,270,000 after acquiring an additional 125 shares in the last quarter. Private Capital Group LLC raised its position in Cloudflare by 109.2% during the first quarter. Private Capital Group LLC now owns 251 shares of the company’s stock worth $30,000 after acquiring an additional 131 shares in the last quarter. Cetera Investment Advisers raised its position in Cloudflare by 2.4% during the fourth quarter. Cetera Investment Advisers now owns 6,184 shares of the company’s stock worth $813,000 after acquiring an additional 145 shares in the last quarter. Finally, Clearstead Advisors LLC raised its position in Cloudflare by 93.8% during the first quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock worth $37,000 after acquiring an additional 150 shares in the last quarter. 69.96% of the stock is currently owned by hedge funds and other institutional investors.

About Cloudflare (Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

Further Reading

Analyst Recommendations for Cloudflare (NYSE:NET)

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