Cloudflare (NYSE:NET) Lowered to Sell Rating by DZ Bank

Cloudflare (NYSE:NET) was downgraded by analysts at DZ Bank from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a $145.00 price target on the stock. DZ Bank’s price target would suggest a potential downside of 16.08% from the stock’s current price.

A number of other research firms also recently weighed in on NET. Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Susquehanna raised their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday. Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $135.28.

Cloudflare Stock Performance

NYSE:NET opened at $172.78 on Tuesday. The company has a market capitalization of $59.30 billion, a PE ratio of -785.36 and a beta of 1.12. The company has a 50 day simple moving average of $122.83 and a two-hundred day simple moving average of $98.96. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $176.73.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts anticipate that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $24,030,141.07. The trade was a 10.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 581,354 shares of company stock worth $64,625,120. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. raised its stake in shares of Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares during the period. Atomi Financial Group Inc. raised its stake in shares of Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares during the period. Baxter Bros Inc. increased its holdings in Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after acquiring an additional 100 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after acquiring an additional 105 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares during the last quarter. 82.68% of the stock is currently owned by 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.