Cloudflare (NYSE:NET) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Cloudflare (NYSE:NET) in a research note published on Tuesday morning. The brokerage issued an overweight rating on the stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Truist Financial upped their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. Stifel Nicolaus upped their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $131.64.

Cloudflare Stock Up 0.3 %

Shares of NYSE NET opened at $117.89 on Tuesday. The business has a 50-day moving average price of $136.61 and a 200 day moving average price of $109.54. The stock has a market cap of $40.68 billion, a PE ratio of -535.85 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts forecast that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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. In the last three months, insiders have sold 556,766 shares of company stock valued at $72,579,200. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of NET. Quarry LP boosted its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Cloudflare during the 4th quarter valued at about $43,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the third quarter worth approximately $54,000. Park Square Financial Group LLC purchased a new stake in Cloudflare in the fourth quarter valued at approximately $56,000. Finally, Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% during the fourth 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. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.