Cloudflare, Inc. (NYSE:NET) Receives Average Rating of "Hold" from Analysts

Cloudflare, Inc. (NYSE:NET - Get Free Report) has been assigned a consensus rating of "Hold" from the twenty-nine brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $145.92.

Several research analysts recently commented on NET shares. Guggenheim boosted their price target on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. UBS Group upped their price objective on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $200.00 price objective (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research note on Monday, May 12th. Finally, Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th.

Cloudflare Price Performance

NET stock opened at $193.15 on Tuesday. The stock has a 50-day moving average price of $164.24 and a two-hundred day moving average price of $138.78. Cloudflare has a 12-month low of $69.26 and a 12-month high of $198.01. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The company has a market cap of $66.95 billion, a PE ratio of -839.78 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same period in the previous year, the company earned $0.16 EPS. Cloudflare's quarterly revenue was up 26.5% on a year-over-year basis. As a group, research analysts predict that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $180.76, for a total transaction of $1,807,600.00. Following the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $43,662,578. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $171.25, for a total value of $8,970,760.00. Following the transaction, the chief executive officer owned 381,213 shares in the company, valued at approximately $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 478,603 shares of company stock valued at $75,548,296. 10.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of NET. Groupama Asset Managment acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $249,544,000. American Century Companies Inc. grew its position in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after purchasing an additional 836,591 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after purchasing an additional 804,059 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.