Brokerages Set Cloudflare, Inc. (NYSE:NET) Price Target at $141.79

Shares of Cloudflare, Inc. (NYSE:NET - Get Free Report) have earned an average recommendation of "Hold" from the twenty-seven research firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $141.79.

A number of equities research analysts recently commented on the company. Baird R W downgraded Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Needham & Company LLC lifted their target price on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Royal Bank of Canada decreased their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Jefferies Financial Group decreased their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a report on Friday, May 9th. Finally, DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th.

Cloudflare Stock Up 0.1%

Cloudflare stock traded up $0.24 during midday trading on Monday, reaching $158.45. The company's stock had a trading volume of 1,675,613 shares, compared to its average volume of 3,154,726. Cloudflare has a 52-week low of $66.24 and a 52-week high of $177.37. The stock has a market capitalization of $54.68 billion, a P/E ratio of -720.20 and a beta of 1.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock's 50-day simple moving average is $122.55 and its 200-day simple moving average is $122.11.

Cloudflare (NYSE:NET - Get Free Report) last released 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 return on equity of 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same period last year, the firm earned $0.16 EPS. The company's revenue for the quarter was up 26.5% compared to the same quarter last year. On average, sell-side analysts expect that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $107.29, for a total value of $2,750,915.60. Following the sale, the insider now directly owns 413,413 shares of the company's stock, valued at $44,355,080.77. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 2,311 shares of Cloudflare stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $44,545,250.75. This represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 564,297 shares of company stock valued at $73,906,935. Company insiders own 12.83% of the company's stock.

Institutional Trading of Cloudflare

Institutional investors have recently made changes to their positions in the company. Hartline Investment Corp boosted its stake in shares of Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock worth $28,464,000 after acquiring an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter worth approximately $215,000. Strategic Blueprint LLC acquired a new position in Cloudflare during the fourth quarter worth $265,000. Clarendon Private LLC acquired a new position in Cloudflare during the fourth quarter worth $293,000. Finally, Savant Capital LLC acquired a new position in Cloudflare during the fourth quarter worth $237,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.