Cloudflare (NET) Set to Announce Earnings on Thursday

Cloudflare (NYSE:NET) will announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Cloudflare Stock Performance

Shares of NET opened at $86.49 on Tuesday. Cloudflare has a 1 year low of $61.34 and a 1 year high of $116.00. The stock has a market capitalization of $29.55 billion, a P/E ratio of -298.24 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The company’s fifty day moving average is $83.92 and its two-hundred day moving average is $80.48.

Analysts Set New Price Targets

Several research firms have weighed in on NET. Scotiabank began coverage on Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 target price on the stock. BNP Paribas started coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Susquehanna increased their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $91.72.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the sale, the chief executive officer now directly owns 10,761 shares of the company’s stock, valued at approximately $1,010,995.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the transaction, the insider now owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80. Following the completion of the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $1,010,995.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 529,427 shares of company stock valued at $43,755,195. 12.83% of the stock is owned by corporate insiders.

About Cloudflare

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.