Cloudflare (NYSE:NET) Downgraded to “Sell” Rating by DZ Bank

DZ Bank lowered shares of Cloudflare (NYSE:NET) from a hold rating to a sell rating in a report released on Tuesday, Marketbeat reports. The brokerage currently has $145.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Guggenheim raised their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Stifel Nicolaus raised their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Piper Sandler raised their target price on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $135.28.

Cloudflare Stock Performance

Cloudflare stock opened at $176.28 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a 1-year low of $66.24 and a 1-year high of $176.73. The firm has a market capitalization of $60.50 billion, a P/E ratio of -801.28 and a beta of 1.12. The company’s 50-day moving average is $122.83 and its 200 day moving average is $98.96.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Research analysts forecast that Cloudflare will post -0.04 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 528,970 shares of company stock worth $59,959,801 in the last ninety days. 12.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently made changes to their positions in the stock. CreativeOne Wealth LLC lifted its holdings in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after acquiring an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. increased its stake in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the period. Baxter Bros Inc. increased its stake in Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after buying an additional 100 shares during the period. Finally, Chicago Partners Investment Group LLC increased its position in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the last quarter. 82.68% of the stock is currently 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.