Cloudflare, Inc. (NYSE:NET) Receives $92.88 Average PT from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have earned a consensus recommendation of “Hold” from the twenty-six research firms that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $92.88.

Several analysts have issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Guggenheim upped their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Scotiabank lifted their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock.

Cloudflare Price Performance

NYSE NET opened at $99.38 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of -381.65 and a beta of 1.10. The business has a 50 day simple moving average of $89.15 and a 200 day simple moving average of $81.98. Cloudflare has a 52-week low of $66.24 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Analysts anticipate that Cloudflare will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Michelle Zatlyn sold 35,118 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $105.30, for a total value of $3,697,925.40. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $18,212,582.70. This represents a 16.88 % 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, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the completion of the sale, the insider now owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 606,952 shares of company stock valued at $53,078,202. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently added to or reduced their stakes in NET. Advisors Asset Management Inc. increased its position in shares of Cloudflare by 15.6% in the first quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $171,000 after purchasing an additional 237 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Cloudflare by 20.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after buying an additional 149,866 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Cloudflare by 26.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,936 shares of the company’s stock valued at $381,000 after buying an additional 828 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Cloudflare by 4.8% during the 1st quarter. California State Teachers Retirement System now owns 447,813 shares of the company’s stock worth $43,362,000 after acquiring an additional 20,533 shares during the period. Finally, Comerica Bank boosted its position in shares of Cloudflare by 19.9% during the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock worth $2,765,000 after acquiring an additional 4,733 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.