Analysts Set Cloudflare, Inc. (NYSE:NET) PT at $141.79

Cloudflare, Inc. (NYSE:NET) has been assigned a consensus recommendation of “Hold” from the twenty-seven analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $141.79.

Several brokerages have recently issued reports on NET. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Tuesday, February 11th. Capital One Financial raised shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 8th. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, JMP Securities boosted their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th.

Cloudflare Stock Down 0.7%

Shares of NYSE:NET opened at $156.37 on Monday. The stock has a market capitalization of $53.96 billion, a P/E ratio of -710.79 and a beta of 1.78. The stock’s 50-day moving average price is $120.84 and its 200-day moving average price is $121.13. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analysts’ expectations of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, equities analysts anticipate that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00. Following the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. The trade was a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 529,199 shares of company stock worth $68,401,233. Insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently bought and sold shares of the company. Capital World Investors increased its stake in Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock valued at $3,475,011,000 after buying an additional 538,850 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after acquiring an additional 68,661 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after acquiring an additional 786,063 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after acquiring an additional 779,819 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

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.