Cloudflare (NYSE:NET) Stock Rating Upgraded by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Cloudflare (NYSE:NET) from a hold rating to a buy rating in a report released on Tuesday morning, Marketbeat Ratings reports. The firm currently has $136.00 price objective on the stock, up from their previous price objective of $95.00.

A number of other analysts have also recently commented on the company. Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. UBS Group lifted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho upped their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler raised their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $97.81.

Cloudflare Stock Performance

NET opened at $108.58 on Tuesday. The firm has a fifty day moving average price of $98.31 and a 200 day moving average price of $86.10. Cloudflare has a 1 year low of $66.24 and a 1 year high of $119.42. The stock has a market cap of $37.26 billion, a P/E ratio of -417.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last posted its earnings results 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 business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Equities research analysts anticipate that Cloudflare will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at $19,572,040.44. This trade represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,824 shares of company stock worth $49,553,288 over the last quarter. 12.83% of the stock is currently owned by company insiders.

Institutional Trading of Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Cloudflare by 18.0% in the third quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock valued at $1,880,000 after buying an additional 3,550 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cloudflare in the 3rd quarter valued at about $204,000. Sanctuary Advisors LLC grew its position in Cloudflare by 37.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock valued at $1,143,000 after acquiring an additional 3,835 shares in the last quarter. Virtu Financial LLC purchased a new stake in Cloudflare during the third quarter worth about $1,268,000. Finally, Advisory Resource Group lifted its position in shares of Cloudflare by 1.6% during the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock worth $1,020,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors 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.