Cloudflare, Inc. (NYSE:NET) Receives Average Rating of “Hold” from Brokerages

Cloudflare, Inc. (NYSE:NET) has been assigned a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $107.00.

NET has been the subject of several research analyst reports. BNP Paribas initiated coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Royal Bank of Canada boosted their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd. UBS Group boosted their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th.

Cloudflare Trading Up 2.0 %

NET opened at $117.13 on Tuesday. Cloudflare has a twelve month low of $66.24 and a twelve month high of $121.02. The company has a 50-day simple moving average of $108.20 and a 200 day simple moving average of $91.77. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $40.20 billion, a price-to-earnings ratio of -450.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Analysts predict that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 524,852 shares of company stock worth $55,386,256 in the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its holdings in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare in the third quarter worth approximately $38,000. Versant Capital Management Inc raised its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

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.