Cloudflare, Inc. (NYSE:NET) Given Average Rating of “Hold” by Analysts

Cloudflare, Inc. (NYSE:NETGet Rating) has been given an average rating of “Hold” by the twenty-four brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $75.54.

NET has been the subject of a number of research reports. Cowen reduced their price objective on Cloudflare from $100.00 to $75.00 in a research report on Friday, November 4th. Cowen lowered their target price on Cloudflare from $100.00 to $75.00 in a research note on Friday, November 4th. Moffett Nathanson started coverage on Cloudflare in a research note on Thursday, September 22nd. They set a “buy” rating and a $114.00 price objective for the company. Credit Suisse Group cut their price target on Cloudflare from $125.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Finally, Macquarie initiated coverage on Cloudflare in a report on Wednesday, November 2nd. They set a “neutral” rating and a $60.00 target price on the stock.

Cloudflare Stock Down 3.5 %

NYSE NET opened at $42.70 on Friday. The stock has a market cap of $14.03 billion, a PE ratio of -61.00 and a beta of 1.03. Cloudflare has a fifty-two week low of $37.37 and a fifty-two week high of $132.45. The business has a 50 day moving average price of $46.10 and a two-hundred day moving average price of $53.24. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 2.42.

Cloudflare (NYSE:NETGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $253.86 million for the quarter, compared to analyst estimates of $250.20 million. Cloudflare had a negative return on equity of 27.82% and a negative net margin of 25.16%. As a group, sell-side analysts predict that Cloudflare will post -0.4 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $45.07, for a total value of $901,400.00. Following the transaction, the chief financial officer now directly owns 86,433 shares of the company’s stock, valued at $3,895,535.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Douglas James Kramer sold 4,500 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the general counsel now directly owns 55,644 shares in the company, valued at $2,782,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 20,000 shares of Cloudflare stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $45.07, for a total transaction of $901,400.00. Following the sale, the chief financial officer now owns 86,433 shares of the company’s stock, valued at $3,895,535.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 495,785 shares of company stock valued at $22,885,776. Corporate insiders own 15.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of Cloudflare by 14.3% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 7,510 shares of the company’s stock valued at $339,000 after acquiring an additional 942 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Cloudflare by 95.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 165,315 shares of the company’s stock valued at $7,474,000 after purchasing an additional 80,544 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Cloudflare in the 4th quarter valued at about $263,000. Allworth Financial LP increased its stake in shares of Cloudflare by 56.5% during the 4th quarter. Allworth Financial LP now owns 1,363 shares of the company’s stock valued at $62,000 after acquiring an additional 492 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Cloudflare by 5.8% during the 4th quarter. State of Alaska Department of Revenue now owns 20,602 shares of the company’s stock worth $931,000 after purchasing an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 69.97% 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.

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