Cloudflare, Inc. (NYSE:NET) Receives Average Recommendation of “Hold” from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have received a consensus rating of “Hold” from the twenty-seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $135.64.

A number of research analysts have recently issued reports on NET shares. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Susquehanna lifted their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Scotiabank increased their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Morgan Stanley started coverage on shares of Cloudflare in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 618,046 shares of company stock valued at $80,142,792 in the last 90 days. 12.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Hartline Investment Corp raised its holdings in shares of Cloudflare by 1.5% during the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after acquiring an additional 3,957 shares during the period. Birchcreek Wealth Management LLC acquired a new position in shares of Cloudflare during the fourth quarter worth about $215,000. Strategic Blueprint LLC acquired a new position in shares of Cloudflare during the fourth quarter worth about $265,000. Clarendon Private LLC acquired a new stake in Cloudflare in the 4th quarter valued at approximately $293,000. Finally, Savant Capital LLC bought a new stake in Cloudflare in the 4th quarter valued at approximately $237,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 3.1 %

Cloudflare stock opened at $114.89 on Friday. Cloudflare has a 12 month low of $66.24 and a 12 month high of $177.37. The stock has a market cap of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27. The business has a 50 day moving average price of $137.47 and a two-hundred day moving average price of $111.56. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities analysts forecast that Cloudflare will post -0.11 EPS for the current year.

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.