Cloudflare’s (NET) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Cloudflare (NYSE:NET) in a research report sent to investors on Friday, Benzinga reports. They currently have a $81.00 target price on the stock, down from their previous target price of $110.00.

Several other analysts have also weighed in on NET. KeyCorp upped their price objective on Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a report on Friday, February 9th. Susquehanna boosted their target price on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, February 9th. DZ Bank lowered Cloudflare from a buy rating to a hold rating and set a $110.00 price target for the company. in a research report on Tuesday, February 13th. Royal Bank of Canada boosted their price objective on Cloudflare from $95.00 to $108.00 and gave the stock an outperform rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $53.00 to $90.00 and gave the stock a neutral rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of Hold and a consensus target price of $90.13.

Cloudflare Stock Performance

NET stock opened at $74.29 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a 50-day simple moving average of $93.17 and a 200 day simple moving average of $83.83. Cloudflare has a fifty-two week low of $44.60 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. As a group, research analysts predict that Cloudflare will post -0.2 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Michelle Zatlyn sold 277,376 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the transaction, the chief operating officer now owns 38,545 shares in the company, valued at approximately $3,899,597.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Insiders sold 1,044,347 shares of company stock valued at $101,703,776 in the last three months. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of NET. Cigna Investments Inc. New increased its holdings in shares of Cloudflare by 4.2% during the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after acquiring an additional 129 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Cloudflare by 0.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares during the period. Quent Capital LLC grew its holdings in Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after buying an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after buying an additional 171 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Company Profile

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.