Cloudflare (NYSE:NET) Upgraded at DZ Bank

Cloudflare (NYSE:NET) was upgraded by equities researchers at DZ Bank from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $95.00 target price on the stock. DZ Bank’s price objective indicates a potential upside of 31.12% from the stock’s previous close.

NET has been the subject of a number of other research reports. Bank of America boosted their target price on shares of Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. Morgan Stanley raised their target price on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Truist Financial upped their price target on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. JMP Securities raised their price objective 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. Finally, Robert W. Baird lowered their target price on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus price target of $89.48.

Cloudflare Price Performance

NET stock opened at $72.45 on Tuesday. The business’s 50-day moving average is $92.19 and its two-hundred day moving average is $83.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a market capitalization of $24.46 billion, a P/E ratio of -136.70 and a beta of 1.15. Cloudflare has a 1 year low of $45.47 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Analysts anticipate that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at $40,351,461.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 6,000 shares of Cloudflare stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $23,789,829.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,141,153 shares of company stock worth $108,765,387. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NET. Cigna Investments Inc. New grew its holdings in Cloudflare by 4.2% during the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after buying an additional 129 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after acquiring an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after acquiring an additional 132 shares during the last quarter. Quent Capital LLC increased its position in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Cloudflare by 34.4% in the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after purchasing an additional 171 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

About Cloudflare

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.