Analysts Set Cloudflare, Inc. (NYSE:NET) PT at $90.96

Cloudflare, Inc. (NYSE:NET) has been given a consensus rating of “Hold” by the twenty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $90.96.

NET has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Bank of America increased their price target on shares of Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, May 7th. Guggenheim reissued a “sell” rating and issued a $50.00 price target on shares of Cloudflare in a report on Tuesday, June 25th. Finally, Oppenheimer reduced their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 60,863 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $74.94, for a total value of $4,561,073.22. Following the completion of the sale, the chief operating officer now owns 211,394 shares in the company, valued at approximately $15,841,866.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total transaction of $5,030,959.36. Following the completion of the sale, the chief executive officer now owns 230,612 shares in the company, valued at approximately $22,147,976.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michelle Zatlyn sold 60,863 shares of Cloudflare stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $74.94, for a total transaction of $4,561,073.22. Following the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at approximately $15,841,866.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 697,796 shares of company stock worth $56,628,123. 12.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of NET. LPL Financial LLC boosted its stake in Cloudflare by 5.3% during the 3rd quarter. LPL Financial LLC now owns 114,510 shares of the company’s stock worth $7,219,000 after acquiring an additional 5,806 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Cloudflare during the 3rd quarter worth approximately $325,000. Vinva Investment Management Ltd boosted its stake in Cloudflare by 13.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 6,639 shares of the company’s stock worth $419,000 after acquiring an additional 771 shares during the last quarter. Trexquant Investment LP bought a new position in Cloudflare during the 3rd quarter worth approximately $1,615,000. Finally, Treasurer of the State of North Carolina boosted its stake in Cloudflare by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 129,801 shares of the company’s stock worth $8,183,000 after acquiring an additional 530 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

NYSE NET opened at $82.83 on Friday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a fifty day simple moving average of $76.89 and a 200 day simple moving average of $85.45. The company has a market cap of $28.14 billion, a P/E ratio of -156.28 and a beta of 1.08. Cloudflare has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. On average, sell-side analysts predict that Cloudflare will post -0.19 EPS for the current year.

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.