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

Cloudflare, Inc. (NYSE:NET) has been assigned an average rating of “Hold” from the twenty-eight research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $97.81.

Several equities analysts recently weighed in on NET shares. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $136.00 in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd.

Cloudflare Trading Down 0.5 %

Shares of NET stock opened at $108.58 on Friday. Cloudflare has a twelve month low of $66.24 and a twelve month high of $119.42. The company has a market capitalization of $37.26 billion, a price-to-earnings ratio of -417.62 and a beta of 1.10. The firm has a 50-day moving average price of $97.98 and a 200 day moving average price of $85.94. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. This trade represents a 5.60 % decrease in their position. The transaction 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 company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 524,824 shares of company stock valued at $49,553,288. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its holdings in shares of Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the last quarter. Marshall Wace LLP grew its stake in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare in the 3rd quarter valued at $25,588,000. American Century Companies Inc. lifted its stake in Cloudflare by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares in the last quarter. Finally, Glynn Capital Management LLC bought a new position in shares of Cloudflare during the 2nd quarter valued at about $16,765,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.