Cloudflare (NYSE:NET) Trading Up 1.4% – Time to Buy?

Shares of Cloudflare, Inc. (NYSE:NET) were up 1.4% during trading on Thursday . The company traded as high as $150.69 and last traded at $146.98. Approximately 1,095,049 shares changed hands during trading, a decline of 72% from the average daily volume of 3,899,221 shares. The stock had previously closed at $144.92.

Analysts Set New Price Targets

A number of analysts have commented on NET shares. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Morgan Stanley upped their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. JMP Securities upped their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group upped their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Performance

The stock has a market capitalization of $49.93 billion, a PE ratio of -661.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business’s fifty day moving average price is $133.31 and its 200-day moving average price is $105.43.

Cloudflare (NYSE:NET) last announced its quarterly earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 638,046 shares of company stock worth $81,243,344. Insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter valued at approximately $38,000. Quarry LP grew its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare during the fourth quarter valued at approximately $43,000. Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter worth approximately $54,000. Finally, Park Square Financial Group LLC bought a new position in shares of Cloudflare in the fourth quarter worth approximately $56,000. 82.68% of the stock is currently owned by institutional investors.

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.