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

Cloudflare, Inc. (NYSE:NET) has been assigned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $90.96.

NET has been the topic of several recent analyst reports. Royal Bank of Canada cut their price objective on Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Citigroup dropped their target price on Cloudflare from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. dropped their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Guggenheim reiterated a “sell” rating and issued a $50.00 target price on shares of Cloudflare in a report on Tuesday, June 25th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a report on Tuesday, May 14th.

Cloudflare Price Performance

NYSE NET opened at $84.53 on Friday. The stock’s 50-day moving average price is $76.71 and its two-hundred day moving average price is $85.43. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market cap of $28.72 billion, a PE ratio of -159.49 and a beta of 1.10. Cloudflare has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, analysts predict that Cloudflare will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36. Following the completion of the sale, the chief executive officer now directly owns 230,612 shares of the company’s stock, valued at $22,147,976.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20. Following the completion of the sale, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at $18,027,680.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total value of $5,030,959.36. Following the completion of the sale, the chief executive officer now directly owns 230,612 shares of the company’s stock, valued at $22,147,976.48. The disclosure for this sale can be found here. Insiders sold 821,025 shares of company stock valued at $66,626,900 over the last 90 days. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the business. Cigna Investments Inc. New raised its stake in shares of Cloudflare by 4.2% in the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after purchasing an additional 129 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after purchasing an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares in the last quarter. Quent Capital LLC raised its stake in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after purchasing an additional 140 shares in the last quarter. Finally, Soltis Investment Advisors LLC raised its stake in shares of Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after purchasing an additional 168 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

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.