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

Shares of Cloudflare, Inc. (NYSE:NET) have received a consensus rating of “Hold” from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $87.08.

Several equities analysts have weighed in on the company. KeyCorp raised their target price on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Truist Financial raised their target price on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a report on Tuesday, February 13th. Mizuho cut their target price on Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Royal Bank of Canada raised their price target on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 8,029 shares of Cloudflare stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $90.39, for a total transaction of $725,741.31. Following the sale, the director now directly owns 1,214,830 shares of the company’s stock, valued at $109,808,483.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cloudflare news, Director Carl Ledbetter sold 8,029 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $90.39, for a total transaction of $725,741.31. Following the completion of the transaction, the director now owns 1,214,830 shares in the company, valued at $109,808,483.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the transaction, the insider now owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,095,707 shares of company stock valued at $106,154,633 over the last three months. 14.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after purchasing an additional 740,914 shares during the period. Capital World Investors lifted its stake in Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after purchasing an additional 487,308 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after acquiring an additional 6,068,873 shares during the last quarter. State Street Corp raised its stake in shares of Cloudflare by 5.3% in the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after acquiring an additional 278,422 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Cloudflare by 4.0% in the first quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after acquiring an additional 146,503 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE:NET opened at $86.71 on Friday. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00. The business has a fifty day simple moving average of $96.86 and a 200 day simple moving average of $81.63. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, sell-side analysts predict that Cloudflare will post -0.2 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.