Shares of Cloudflare, Inc. (NYSE:NET – Get Free Report) have received a consensus recommendation of “Hold” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $65.85.
NET has been the subject of a number of research analyst reports. Needham & Company LLC increased their price target on Cloudflare from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Wells Fargo & Company raised their target price on Cloudflare from $55.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Guggenheim cut Cloudflare from a “neutral” rating to a “sell” rating and set a $50.00 target price for the company. in a report on Monday, August 7th. Robert W. Baird lifted their price objective on Cloudflare from $64.00 to $75.00 in a research note on Friday, July 28th. Finally, Royal Bank of Canada lifted their price objective on Cloudflare from $54.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday, July 31st.
Insider Buying and Selling at Cloudflare
Institutional Investors Weigh In On Cloudflare
Several large investors have recently modified their holdings of NET. TFC Financial Management Inc. purchased a new stake in shares of Cloudflare during the fourth quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter worth approximately $29,000. Belpointe Asset Management LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth approximately $31,000. First Horizon Advisors Inc. raised its stake in shares of Cloudflare by 45.4% during the fourth quarter. First Horizon Advisors Inc. now owns 682 shares of the company’s stock worth $31,000 after purchasing an additional 213 shares during the last quarter. Finally, Alta Advisers Ltd purchased a new stake in shares of Cloudflare during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Cloudflare Stock Performance
NYSE NET opened at $62.70 on Friday. The stock has a market cap of $20.95 billion, a PE ratio of -93.57 and a beta of 0.94. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 2.00. Cloudflare has a twelve month low of $37.37 and a twelve month high of $76.07. The stock has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $61.19.
Cloudflare (NYSE:NET – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $308.49 million for the quarter, compared to analysts’ expectations of $305.63 million. Cloudflare had a negative return on equity of 21.42% and a negative net margin of 19.61%. Equities analysts anticipate that Cloudflare will post -0.34 earnings per share for the current year.
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, secure origin connection, and rate limiting products.
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