Cloudflare, Inc. (NYSE:NET) Given Consensus Rating of “Hold” by Brokerages

Shares of Cloudflare, Inc. (NYSE:NET) have earned a consensus rating of “Hold” from the twenty-eight analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $145.92.

NET has been the topic of several recent research reports. Jefferies Financial Group lowered their price target on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, May 9th. Guggenheim boosted their price objective on Cloudflare from $68.00 to $70.00 and gave the company a “sell” rating in a report on Friday, May 9th. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, May 12th. Morgan Stanley lifted their price target on Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Mizuho upgraded Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Wednesday, April 16th.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $107.29, for a total transaction of $2,750,915.60. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $44,355,080.77. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $48,501,613.16. This represents a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 555,976 shares of company stock worth $74,746,733. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in shares of Cloudflare by 13.3% in the fourth quarter. Empowered Funds LLC now owns 4,960 shares of the company’s stock valued at $534,000 after purchasing an additional 582 shares during the last quarter. Savant Capital LLC purchased a new stake in Cloudflare in the 4th quarter valued at $237,000. Sovran Advisors LLC purchased a new stake in Cloudflare in the 4th quarter valued at $231,000. Certuity LLC increased its stake in shares of Cloudflare by 13.0% in the 4th quarter. Certuity LLC now owns 2,880 shares of the company’s stock worth $310,000 after acquiring an additional 331 shares during the last quarter. Finally, Aljian Capital Management LLC purchased a new position in shares of Cloudflare during the 4th quarter worth $470,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Down 5.1%

Cloudflare stock opened at $170.62 on Friday. The business’s 50-day simple moving average is $138.12 and its two-hundred day simple moving average is $129.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $59.14 billion, a PE ratio of -775.55 and a beta of 1.84. Cloudflare has a fifty-two week low of $69.26 and a fifty-two week high of $181.81.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm had revenue of $479.09 million during the quarter, compared to analysts’ expectations of $469.49 million. During the same quarter in the prior year, the company earned $0.16 EPS. Cloudflare’s quarterly revenue was up 26.5% on a year-over-year basis. Equities analysts anticipate that Cloudflare will post -0.11 EPS for the current year.

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.