Cloudflare (NYSE:NET) Rating Reiterated by Cantor Fitzgerald

Cloudflare (NYSE:NET)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They currently have a $100.00 target price on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 15.33% from the company’s previous close.

A number of other brokerages have also recently weighed in on NET. Susquehanna raised their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Truist Financial raised their target price on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. JMP Securities raised their target price on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Needham & Company LLC raised their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Sanford C. Bernstein started coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and an average price target of $87.08.

Cloudflare Stock Performance

Shares of NET opened at $86.71 on Wednesday. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a market cap of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The firm has a fifty day moving average of $96.86 and a 200-day moving average of $81.63.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. As a group, equities analysts anticipate that Cloudflare will post -0.2 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the transaction, the chief executive officer now owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the sale, the chief financial officer now owns 366,465 shares in the company, valued at $30,002,489.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the completion of the sale, the chief executive officer now owns 12,183 shares in the company, valued at approximately $1,152,389.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,095,707 shares of company stock valued at $106,154,633. 14.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Cloudflare during the first quarter worth $29,000. ICA Group Wealth Management LLC acquired a new stake in Cloudflare during the fourth quarter worth $38,000. Finally, GAMMA Investing LLC acquired a new stake in Cloudflare during the fourth quarter worth $39,000. 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.