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

Shares of Cloudflare, Inc. (NYSE:NET) have received a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $135.28.

Several brokerages have recently weighed in on NET. Robert W. Baird reissued a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Mizuho raised their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. UBS Group upped their target price on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Morgan Stanley lifted their price target on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Truist Financial upped their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 528,970 shares of company stock worth $59,959,801. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CVA Family Office LLC grew its holdings in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the third quarter worth $38,000. Quarry LP increased its holdings in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC raised its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $170.98 on Friday. Cloudflare has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $58.68 billion, a price-to-earnings ratio of -777.19 and a beta of 1.12. The company’s fifty day simple moving average is $125.30 and its 200 day simple moving average is $100.14.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. On average, research analysts forecast that Cloudflare will post -0.04 earnings per share for the current fiscal 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.