Cloudflare, Inc. (NYSE:NET) Expected to Post Quarterly Sales of $205.74 Million

Equities research analysts forecast that Cloudflare, Inc. (NYSE:NET – Get Rating) will report sales of $205.74 million for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Cloudflare’s earnings, with the highest sales estimate coming in at $206.70 million and the lowest estimate coming in at $205.40 million. Cloudflare reported sales of $138.06 million during the same quarter last year, which would suggest a positive year over year growth rate of 49%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Cloudflare will report full year sales of $930.56 million for the current financial year, with estimates ranging from $929.00 million to $933.60 million. For the next year, analysts forecast that the firm will report sales of $1.22 billion, with estimates ranging from $781.74 million to $1.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cloudflare.

Cloudflare (NYSE:NET – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.04). Cloudflare had a negative net margin of 39.65% and a negative return on equity of 15.45%. The company had revenue of $193.60 million for the quarter, compared to analysts’ expectations of $184.79 million.

A number of equities analysts have weighed in on the stock. Truist Financial decreased their price target on shares of Cloudflare from $240.00 to $200.00 in a report on Tuesday, January 18th. Stifel Nicolaus dropped their price objective on shares of Cloudflare from $126.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 21st. Robert W. Baird decreased their target price on shares of Cloudflare from $210.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, February 11th. Stifel Europe boosted their target price on shares of Cloudflare from $113.00 to $128.00 and gave the stock a “hold” rating in a research report on Monday, February 14th. Finally, Morgan Stanley boosted their target price on shares of Cloudflare from $91.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $151.39.

In related news, COO Michelle Zatlyn sold 33,330 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $95.63, for a total value of $3,187,347.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $94.68, for a total value of $4,959,717.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,294 shares of company stock valued at $65,886,479. Insiders own 20.69% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Jasper Ridge Partners L.P. grew its holdings in shares of Cloudflare by 4.0% during the third quarter. Jasper Ridge Partners L.P. now owns 137,885 shares of the company’s stock worth $15,533,000 after purchasing an additional 5,284 shares in the last quarter. Invesco Ltd. boosted its stake in Cloudflare by 2.5% in the third quarter. Invesco Ltd. now owns 1,116,512 shares of the company’s stock worth $125,775,000 after buying an additional 27,615 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Cloudflare by 7.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 222,979 shares of the company’s stock worth $25,119,000 after buying an additional 15,661 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Cloudflare by 2.7% in the third quarter. Handelsbanken Fonder AB now owns 357,075 shares of the company’s stock worth $40,224,000 after buying an additional 9,335 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Cloudflare by 8.1% in the third quarter. Mackenzie Financial Corp now owns 51,238 shares of the company’s stock worth $5,772,000 after buying an additional 3,842 shares in the last quarter. 66.28% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NET opened at $95.22 on Monday. The firm has a market cap of $30.86 billion, a price-to-earnings ratio of -114.72 and a beta of 0.69. The business’s 50 day moving average is $108.35 and its two-hundred day moving average is $133.77. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 1.41. Cloudflare has a 52-week low of $64.84 and a 52-week high of $221.64.

Cloudflare Company Profile (Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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