Cloudflare, Inc. (NYSE:NET) Given Consensus Recommendation of “Hold” by Brokerages

Cloudflare, Inc. (NYSE:NET) has received an average rating of “Hold” from the twenty-six analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $91.20.

NET has been the topic of a number of recent research reports. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 price target on shares of Cloudflare in a report on Monday, June 17th. Finally, Royal Bank of Canada increased their price objective on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd.

Cloudflare Trading Up 1.1 %

NYSE:NET opened at $93.47 on Friday. The firm has a 50-day simple moving average of $80.88 and a 200-day simple moving average of $81.06. Cloudflare has a one year low of $53.88 and a one year high of $116.00. The firm has a market cap of $31.94 billion, a P/E ratio of -322.31 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.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. Cloudflare’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Equities analysts anticipate that Cloudflare will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the completion of the transaction, the chief financial officer now owns 309,937 shares in the company, valued at approximately $24,450,929.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $78.89, for a total transaction of $1,183,350.00. Following the sale, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at $24,450,929.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $14,632,356.78. The trade was 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 have sold 417,784 shares of company stock valued at $33,130,625. 12.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Cloudflare by 463.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 23,251 shares of the company’s stock worth $1,936,000 after purchasing an additional 19,127 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of Cloudflare by 558.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 31,457 shares of the company’s stock valued at $2,619,000 after buying an additional 26,679 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Cloudflare during the 4th quarter valued at approximately $645,000. Vinva Investment Management Ltd grew its stake in Cloudflare by 93.1% in the 4th quarter. Vinva Investment Management Ltd now owns 12,821 shares of the company’s stock valued at $1,086,000 after acquiring an additional 6,182 shares during the period. Finally, Prudential PLC raised its position in Cloudflare by 33.9% during the fourth quarter. Prudential PLC now owns 9,406 shares of the company’s stock worth $783,000 after acquiring an additional 2,381 shares during the period. Institutional investors and hedge funds 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.