Cloudflare (NYSE:NET) Rating Increased to Strong-Buy at Capital One Financial

Cloudflare (NYSE:NET - Get Free Report) was upgraded by investment analysts at Capital One Financial from a "hold" rating to a "strong-buy" rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Guggenheim lifted their target price on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Wednesday, April 16th. Needham & Company LLC boosted their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday. Finally, Piper Sandler reiterated a "neutral" rating and set a $151.00 price target (up previously from $112.00) on shares of Cloudflare in a report on Friday. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $141.79.

Cloudflare Stock Performance

NYSE:NET traded up $4.47 on Thursday, hitting $146.83. The stock had a trading volume of 748,996 shares, compared to its average volume of 3,890,383. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $50.67 billion, a price-to-earnings ratio of -667.39 and a beta of 1.78. The business's 50-day simple moving average is $115.99 and its two-hundred day simple moving average is $118.33. Cloudflare has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released 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 firm had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. As a group, research analysts predict that Cloudflare will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now owns 188,406 shares of the company's stock, valued at $21,257,848.98. The trade was a 4.56% decrease in their position. The transaction was disclosed in a legal 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 that occurred on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $59,279,290.07. This trade represents a 11.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 492,492 shares of company stock worth $63,757,685. 12.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. increased its holdings in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. acquired a new position in shares of Cloudflare in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its position in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the last quarter. Finally, Global Financial Private Client LLC lifted its stake in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after purchasing an additional 381 shares during the period. Institutional investors own 82.68% of the company's stock.

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.