Cloudflare (NYSE:NET) Trading 7.7% Higher – What’s Next?

Shares of Cloudflare, Inc. (NYSE:NETGet Free Report) traded up 7.7% during trading on Monday . The stock traded as high as $179.25 and last traded at $179.8880. 1,869,060 shares were traded during trading, a decline of 60% from the average session volume of 4,715,809 shares. The stock had previously closed at $166.99.

More Cloudflare News

Here are the key news stories impacting Cloudflare this week:

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. New Street Research set a $140.00 price target on shares of Cloudflare in a research note on Wednesday, February 11th. Piper Sandler raised shares of Cloudflare from a “neutral” rating to an “overweight” rating in a research note on Tuesday. BTIG Research lifted their price target on shares of Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. Finally, DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare has an average rating of “Moderate Buy” and a consensus target price of $232.62.

Get Our Latest Stock Analysis on NET

Cloudflare Trading Down 2.9%

The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The firm’s 50 day moving average is $194.79 and its 200 day moving average is $201.23. The company has a market capitalization of $62.88 billion, a PE ratio of -616.01 and a beta of 1.87.

Cloudflare (NYSE:NETGet Free Report) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $173.78, for a total value of $9,103,291.52. Following the sale, the chief executive officer owned 22,911 shares in the company, valued at $3,981,473.58. The trade was a 69.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 41,557 shares of Cloudflare stock in a transaction on Friday, February 20th. The shares were sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the completion of the sale, the chief financial officer owned 85,452 shares in the company, valued at approximately $15,812,038.08. This trade represents a 32.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 598,606 shares of company stock valued at $116,282,984 over the last three months. 10.89% of the stock is owned by company insiders.

Institutional Trading of Cloudflare

Several large investors have recently added to or reduced their stakes in the stock. Reliant Investment Partners LLC boosted its holdings in Cloudflare by 1.5% in the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock valued at $718,000 after acquiring an additional 50 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in Cloudflare by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock valued at $605,000 after acquiring an additional 51 shares in the last quarter. IMA Advisory Services Inc. boosted its holdings in Cloudflare by 4.5% in the fourth quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company’s stock valued at $254,000 after acquiring an additional 55 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Cloudflare by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Silver Oak Securities Incorporated boosted its holdings in Cloudflare by 5.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company’s stock valued at $218,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

(Get Free Report)

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

See Also

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.