Cloudflare (NYSE:NET) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald assumed coverage on shares of Cloudflare (NYSE:NET) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $111.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 5.23% from the stock’s previous close.

NET has been the topic of several other reports. UBS Group increased their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Piper Sandler increased their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and upped their price objective for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $107.00.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $117.13 on Friday. The business’s fifty day simple moving average is $107.72 and its 200-day simple moving average is $91.49. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $40.20 billion, a PE ratio of -450.49 and a beta of 1.10. Cloudflare has a 52 week low of $66.24 and a 52 week high of $121.02.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate 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%. Equities analysts forecast that Cloudflare will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares of the company’s stock, valued at $521,576. This trade represents a 53.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $265,800.00. Following the transaction, the insider now directly owns 185,386 shares in the company, valued at $16,425,199.60. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,852 shares of company stock valued at $55,386,256 over the last three months. 12.83% of the stock is currently owned by company insiders.

Institutional Trading of Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Marshall Wace LLP grew its position in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the last quarter. Swiss National Bank grew its holdings in Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after buying an additional 10,100 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares during the last quarter. 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.