Cloudflare (NYSE:NET) Downgraded to Sell at Guggenheim

Guggenheim cut shares of Cloudflare (NYSE:NETGet Rating) from a neutral rating to a sell rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have $36.00 price objective on the stock.

NET has been the topic of a number of other reports. Credit Suisse Group dropped their target price on shares of Cloudflare from $125.00 to $95.00 and set an outperform rating on the stock in a research report on Friday, November 4th. Piper Sandler reduced their price objective on shares of Cloudflare from $58.00 to $46.00 in a research note on Tuesday. Truist Financial reduced their price objective on shares of Cloudflare from $80.00 to $57.00 in a research note on Monday, January 9th. Wells Fargo & Company upgraded shares of Cloudflare from an equal weight rating to an overweight rating and raised their target price for the company from $62.00 to $65.00 in a report on Monday, October 17th. Finally, Jefferies Financial Group lowered their price target on shares of Cloudflare from $70.00 to $60.00 and set a hold rating for the company in a report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of Hold and a consensus price target of $75.54.

Cloudflare Stock Up 5.5 %

Shares of NYSE NET opened at $46.36 on Tuesday. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 2.42. The stock has a market cap of $15.24 billion, a PE ratio of -66.23 and a beta of 1.03. The company has a 50-day moving average of $46.06 and a 200 day moving average of $53.38. Cloudflare has a 12-month low of $37.37 and a 12-month high of $132.45.

Cloudflare (NYSE:NETGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $253.86 million for the quarter, compared to analyst estimates of $250.20 million. Cloudflare had a negative net margin of 25.16% and a negative return on equity of 27.82%. As a group, sell-side analysts predict that Cloudflare will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 74,710 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $39.90, for a total value of $2,980,929.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Thomas J. Seifert sold 20,000 shares of Cloudflare stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $40.78, for a total transaction of $815,600.00. Following the sale, the chief financial officer now directly owns 86,433 shares in the company, valued at $3,524,737.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 74,710 shares of Cloudflare stock in a transaction on Friday, January 6th. The shares were sold at an average price of $39.90, for a total value of $2,980,929.00. The disclosure for this sale can be found here. Insiders sold a total of 475,785 shares of company stock worth $21,984,376 in the last quarter. 15.99% of the stock is owned by company insiders.

Institutional Trading of Cloudflare

Several hedge funds have recently bought and sold shares of NET. Utah Retirement Systems raised its holdings in shares of Cloudflare by 0.4% in the third quarter. Utah Retirement Systems now owns 47,762 shares of the company’s stock worth $2,642,000 after buying an additional 200 shares during the period. Brighton Jones LLC boosted its position in shares of Cloudflare by 3.6% in the 2nd quarter. Brighton Jones LLC now owns 6,181 shares of the company’s stock worth $270,000 after purchasing an additional 212 shares in the last quarter. Nwam LLC raised its stake in Cloudflare by 5.3% in the 2nd quarter. Nwam LLC now owns 4,931 shares of the company’s stock worth $249,000 after acquiring an additional 246 shares during the last quarter. IFP Advisors Inc raised its stake in Cloudflare by 1.8% in the 3rd quarter. IFP Advisors Inc now owns 14,656 shares of the company’s stock worth $394,000 after acquiring an additional 264 shares during the last quarter. Finally, Knuff & Co LLC raised its stake in shares of Cloudflare by 16.7% during the 3rd quarter. Knuff & Co LLC now owns 1,900 shares of the company’s stock valued at $105,000 after buying an additional 272 shares during the last quarter. Institutional investors own 69.97% of the company’s stock.

Cloudflare Company Profile

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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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