Cloudflare, Inc. (NYSE:NET) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Cloudflare, Inc. (NYSE:NET) have been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $186.88.

NET has been the subject of several research analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Cloudflare in a research report on Monday. Wells Fargo & Company raised their target price on Cloudflare from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler raised their target price on Cloudflare from $151.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday. Stifel Nicolaus raised their target price on Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday. Finally, Susquehanna decreased their target price on Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, May 12th.

Cloudflare Trading Down 3.5%

NYSE NET opened at $200.46 on Friday. The firm has a market capitalization of $69.48 billion, a P/E ratio of -589.59 and a beta of 1.84. The business has a fifty day simple moving average of $184.49 and a 200 day simple moving average of $149.05. Cloudflare has a 12 month low of $69.26 and a 12 month high of $211.27. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.59% and a negative net margin of 6.22%. The firm had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the firm posted $0.20 EPS. The business’s revenue was up 27.8% compared to the same quarter last year. On average, analysts predict that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 59,130 shares of Cloudflare stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the sale, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the sale, the chief executive officer owned 381,213 shares of the company’s stock, valued at approximately $65,282,726.25. This trade represents a 12.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 688,062 shares of company stock worth $121,498,887 over the last quarter. 10.89% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

A number of large investors have recently modified their holdings of the business. ORG Partners LLC lifted its position in Cloudflare by 11.9% in the 2nd quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after buying an additional 53 shares during the last quarter. Fiduciary Planning LLC lifted its position in Cloudflare by 3.0% in the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after buying an additional 54 shares during the last quarter. CreativeOne Wealth LLC lifted its position in Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after buying an additional 58 shares during the last quarter. Yousif Capital Management LLC lifted its position in Cloudflare by 1.9% in the 2nd quarter. Yousif Capital Management LLC now owns 4,044 shares of the company’s stock worth $792,000 after buying an additional 75 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Cloudflare by 6.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company’s stock worth $152,000 after buying an additional 77 shares during the last quarter. Institutional investors 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.