Cloudflare, Inc. (NYSE:NET) Given Consensus Rating of “Hold” by Brokerages

Cloudflare, Inc. (NYSE:NET) has earned an average recommendation of “Hold” from the twenty-six analysts that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $92.88.

NET has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Mizuho upped their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares in the company, valued at approximately $15,114,520.58. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 35,118 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $18,212,582.70. This represents a 16.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 606,952 shares of company stock worth $53,078,202. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

A number of institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP increased its stake in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the second quarter worth $29,000. Versant Capital Management Inc boosted its position in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Cloudflare in the third quarter valued at $38,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 0.5 %

Shares of NYSE:NET opened at $99.88 on Monday. The company has a market cap of $34.28 billion, a PE ratio of -384.15 and a beta of 1.10. The company’s 50 day moving average is $90.25 and its two-hundred day moving average is $82.40. Cloudflare has a 52 week low of $66.24 and a 52 week high of $116.00. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities analysts predict that Cloudflare will post -0.11 earnings per share for the current fiscal year.

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.