Cloudflare (NET) to Release Earnings on Thursday

Cloudflare (NYSE:NET) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect Cloudflare to post earnings of $0.18 per share and revenue of $452.20 million for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, analysts expect Cloudflare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cloudflare Stock Performance

NYSE:NET opened at $140.10 on Wednesday. The firm has a market capitalization of $48.08 billion, a PE ratio of -538.83 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 $115.82 and its 200 day moving average price is $95.58. Cloudflare has a 12 month low of $66.24 and a 12 month high of $142.41.

Analyst Upgrades and Downgrades

NET has been the topic of several research analyst reports. UBS Group raised their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Truist Financial increased their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Jefferies Financial Group boosted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Piper Sandler increased their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.32.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at $21,403,676.25. This represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 616,257 shares of company stock valued at $67,256,408 in the last three months. Corporate insiders own 12.83% 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.