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-nine ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $233.3846.

NET has been the topic of several research analyst reports. Piper Sandler boosted their target price on Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Truist Financial set a $225.00 price target on Cloudflare in a research note on Tuesday, January 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. Finally, Barclays upped their price objective on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th.

Insider Activity at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $189.50, for a total value of $4,858,969.50. Following the completion of the transaction, the insider owned 34,514 shares of the company’s stock, valued at approximately $6,540,403. This trade represents a 42.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 41,557 shares of Cloudflare stock in a transaction on Friday, February 20th. The stock was sold at an average price of $185.04, for a total transaction of $7,689,707.28. Following the sale, the chief financial officer owned 85,452 shares of the company’s stock, valued at $15,812,038.08. The trade was a 32.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 526,210 shares of company stock worth $97,324,213 in the last 90 days. 10.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fund Advisors of America Inc FL purchased a new position in Cloudflare in the 4th quarter worth $1,900,000. Spear Advisors LLC purchased a new stake in Cloudflare during the 4th quarter valued at about $5,844,000. World Investment Advisors acquired a new position in shares of Cloudflare in the fourth quarter valued at about $225,000. Reflection Asset Management acquired a new position in shares of Cloudflare in the fourth quarter valued at about $86,000. Finally, MidFirst Bank purchased a new position in shares of Cloudflare in the fourth quarter worth about $801,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 0.2%

NYSE:NET opened at $212.46 on Friday. The stock has a market capitalization of $74.42 billion, a price-to-earnings ratio of -732.59 and a beta of 1.98. Cloudflare has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average of $185.42 and a 200 day moving average of $203.02.

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

Cloudflare Company Profile

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.