Cloudflare, Inc. (NYSE:NET) Receives $145.92 Average Price Target from Analysts

Shares of Cloudflare, Inc. (NYSE:NET - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $145.92.

NET has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Wednesday, April 16th. Guggenheim raised their target price on shares of Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Friday, May 9th. UBS Group boosted their price target on shares of Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC raised their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total value of $6,145,690.88. Following the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $48,501,613.16. This represents a 11.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at approximately $35,229,840. This trade represents a 3.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 555,976 shares of company stock worth $74,746,733. Company insiders own 10.89% of the company's stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. Empowered Funds LLC raised its stake in Cloudflare by 13.3% during the fourth quarter. Empowered Funds LLC now owns 4,960 shares of the company's stock valued at $534,000 after buying an additional 582 shares in the last quarter. Savant Capital LLC bought a new stake in Cloudflare during the fourth quarter worth approximately $237,000. Sovran Advisors LLC purchased a new position in shares of Cloudflare in the fourth quarter worth approximately $231,000. Certuity LLC increased its holdings in shares of Cloudflare by 13.0% in the 4th quarter. Certuity LLC now owns 2,880 shares of the company's stock valued at $310,000 after purchasing an additional 331 shares during the period. Finally, Aljian Capital Management LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at $470,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

NYSE:NET traded up $0.88 during trading hours on Friday, hitting $171.69. The company's stock had a trading volume of 6,251,147 shares, compared to its average volume of 3,158,850. Cloudflare has a twelve month low of $69.26 and a twelve month high of $181.81. 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 has a fifty day simple moving average of $138.12 and a 200-day simple moving average of $129.38. The company has a market capitalization of $59.51 billion, a P/E ratio of -780.40 and a beta of 1.84.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business's quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. On average, analysts anticipate that Cloudflare will post -0.11 EPS for the current fiscal year.

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.