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

Cloudflare, Inc. (NYSE:NET) has earned an average rating of “Hold” from the twenty-six analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $91.72.

A number of research analysts recently commented on NET shares. Wolfe Research started coverage on Cloudflare in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Royal Bank of Canada upped their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Guggenheim upped their price objective on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Mizuho upped their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total value of $4,921,476.80. Following the completion of the sale, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $1,010,995.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Janel Riley sold 3,495 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the completion of the transaction, the chief accounting officer now directly owns 80,183 shares in the company, valued at approximately $6,546,941.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the 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 owns 10,761 shares of the company’s stock, valued at $1,010,995.95. 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 quarter, insiders have sold 529,427 shares of company stock valued at $43,755,195. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

Institutional investors and hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare during the 2nd quarter worth about $29,000. Quarry LP grew its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NYSE NET opened at $86.49 on Thursday. Cloudflare has a twelve month low of $61.34 and a twelve month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $29.55 billion, a price-to-earnings ratio of -298.24 and a beta of 1.10. The business has a 50 day simple moving average of $83.92 and a 200-day simple moving average of $80.48.

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.