Cloudflare (NYSE:NET) Now Covered by Oppenheimer

Oppenheimer began coverage on shares of Cloudflare (NYSE:NET) in a research report sent to investors on Thursday morning. The firm issued an outperform rating and a $150.00 price target on the stock.

NET has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Morgan Stanley began coverage on shares of Cloudflare in a research note on Tuesday. They set an “overweight” rating on the stock. Susquehanna raised their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Robert W. Baird reissued a “neutral” rating and set a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $131.64.

Cloudflare Stock Performance

NYSE:NET opened at $117.89 on Thursday. 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 firm has a market cap of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27. The firm’s fifty day moving average price is $136.61 and its 200 day moving average price is $109.54. Cloudflare has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last issued 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%. On average, sell-side analysts expect that Cloudflare will post -0.11 EPS for the current year.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the transaction, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $48,501,613.16. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 556,766 shares of company stock valued at $72,579,200 over the last quarter. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Cloudflare in the 4th quarter worth about $43,000. Quarry LP raised 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 buying an additional 133 shares during the period. Park Square Financial Group LLC acquired a new position in Cloudflare during the fourth quarter valued at approximately $56,000. Larson Financial Group LLC grew its stake 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 buying an additional 517 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.