Cloudflare, Inc. (NYSE:NET) Forecasted to Earn FY2022 Earnings of ($0.54) Per Share

Cloudflare, Inc. (NYSE:NETGet Rating) – Investment analysts at Cantor Fitzgerald issued their FY2022 EPS estimates for Cloudflare in a report issued on Wednesday, September 14th. Cantor Fitzgerald analyst J. Ruykhaver forecasts that the company will post earnings per share of ($0.54) for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $65.00 target price on the stock. The consensus estimate for Cloudflare’s current full-year earnings is ($0.53) per share. Cantor Fitzgerald also issued estimates for Cloudflare’s FY2023 earnings at ($0.56) EPS.

Cloudflare (NYSE:NETGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The company had revenue of $234.52 million for the quarter, compared to analysts’ expectations of $227.52 million. Cloudflare had a negative return on equity of 23.62% and a negative net margin of 35.66%.

A number of other equities analysts also recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Cloudflare from $110.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 28th. Jefferies Financial Group dropped their price objective on shares of Cloudflare from $75.00 to $55.00 in a research note on Monday, May 23rd. Guggenheim assumed coverage on shares of Cloudflare in a research note on Friday, August 12th. They set a “neutral” rating and a $82.00 price objective on the stock. Citigroup increased their price objective on shares of Cloudflare to $62.00 in a research note on Monday, August 15th. Finally, Credit Suisse Group dropped their price objective on shares of Cloudflare to $125.00 in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.50.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $58.92 on Monday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 5.45 and a current ratio of 5.45. The firm’s 50 day simple moving average is $60.70 and its 200-day simple moving average is $72.20. Cloudflare has a one year low of $38.96 and a one year high of $221.64. The firm has a market cap of $19.22 billion, a PE ratio of -64.75 and a beta of 1.10.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $50.34, for a total transaction of $2,637,010.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $50.34, for a total transaction of $2,637,010.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul D. Underwood sold 6,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $70.00, for a total transaction of $420,000.00. Following the transaction, the chief accounting officer now directly owns 30,030 shares of the company’s stock, valued at approximately $2,102,100. The disclosure for this sale can be found here. Insiders sold a total of 320,304 shares of company stock valued at $20,817,806 over the last 90 days. Insiders own 15.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors increased its stake in shares of Cloudflare by 322.4% during the fourth quarter. Capital World Investors now owns 11,347,863 shares of the company’s stock worth $1,492,244,000 after purchasing an additional 8,661,214 shares in the last quarter. Sands Capital Management LLC increased its stake in shares of Cloudflare by 53.6% during the first quarter. Sands Capital Management LLC now owns 13,550,528 shares of the company’s stock worth $1,621,998,000 after purchasing an additional 4,731,354 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Cloudflare by 574.2% during the first quarter. Allianz Asset Management GmbH now owns 2,894,091 shares of the company’s stock worth $346,422,000 after purchasing an additional 2,464,830 shares in the last quarter. Norges Bank purchased a new stake in shares of Cloudflare during the fourth quarter worth about $320,895,000. Finally, First Trust Advisors LP increased its stake in shares of Cloudflare by 30.4% during the first quarter. First Trust Advisors LP now owns 6,448,150 shares of the company’s stock worth $771,844,000 after purchasing an additional 1,503,125 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Cloudflare Company Profile

(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.

Featured Stories

Earnings History and Estimates for Cloudflare (NYSE:NET)

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.