Piper Sandler Analysts Boost Earnings Estimates for Cloudflare, Inc. (NYSE:NET)

Thursday, February 18, 2021 | MarketBeat

Cloudflare, Inc. (NYSE:NET) - Stock analysts at Piper Sandler upped their Q3 2021 earnings per share (EPS) estimates for Cloudflare in a note issued to investors on Tuesday, February 16th. Piper Sandler analyst J. Fish now forecasts that the company will post earnings per share of ($0.07) for the quarter, up from their previous forecast of ($0.08). Piper Sandler also issued estimates for Cloudflare's Q1 2022 earnings at ($0.07) EPS, Q2 2022 earnings at ($0.06) EPS and FY2023 earnings at ($0.03) EPS.

A number of other brokerages have also recently issued reports on NET. BTIG Research upgraded Cloudflare from a "neutral" rating to a "buy" rating and set a $76.00 target price for the company in a report on Friday, November 6th. Wells Fargo & Company boosted their target price on Cloudflare from $50.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Needham & Company LLC upped their price target on Cloudflare from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 12th. Oppenheimer increased their target price on Cloudflare from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, November 2nd. Finally, KeyCorp increased their target price on Cloudflare from $87.00 to $99.00 and gave the company an "overweight" rating in a research note on Friday, February 12th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Cloudflare presently has an average rating of "Buy" and an average target price of $67.88.

NYSE NET opened at $84.40 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.61 and a quick ratio of 8.61. Cloudflare has a 12 month low of $15.05 and a 12 month high of $95.77. The company has a market cap of $25.94 billion, a P/E ratio of -216.40 and a beta of -0.02. The company has a 50-day moving average of $80.93 and a 200-day moving average of $61.25. Cloudflare (NYSE:NET) last posted its quarterly earnings data on Wednesday, February 10th. The company reported ($0.02) EPS for the quarter, beating the Zacks' consensus estimate of ($0.03) by $0.01. Cloudflare had a negative net margin of 29.17% and a negative return on equity of 12.16%. The company had revenue of $125.93 million during the quarter, compared to the consensus estimate of $118.22 million.

In other news, CEO Matthew Prince sold 52,385 shares of the stock in a transaction on Monday, November 23rd. The stock was sold at an average price of $66.07, for a total value of $3,461,076.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott D. Sandell sold 69,661 shares of the stock in a transaction on Friday, November 20th. The stock was sold at an average price of $67.27, for a total value of $4,686,095.47. The disclosure for this sale can be found here. Insiders sold 595,847 shares of company stock worth $45,989,061 over the last ninety days. 35.89% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Eudaimonia Partners LLC bought a new position in shares of Cloudflare in the fourth quarter worth $38,000. Twinbeech Capital LP bought a new position in shares of Cloudflare in the fourth quarter worth $2,415,000. Voloridge Investment Management LLC bought a new position in shares of Cloudflare in the fourth quarter worth $1,864,000. Worldquant Millennium Advisors LLC bought a new position in shares of Cloudflare in the fourth quarter worth $16,093,000. Finally, Cetera Investment Advisers bought a new position in Cloudflare during the fourth quarter valued at about $337,000. 54.76% of the stock is owned by institutional investors.

Cloudflare Company Profile

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

Recommended Story: What is a Futures Contract?

Earnings History and Estimates for Cloudflare (NYSE:NET)

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 [email protected]



7 Great Dividend Stocks to Buy For a Comfortable Retirement

There are people who will say the day of set it and forget it retirement accounts are over. But it’s a narrative we’ve heard before. The truth is the formula for saving for and enjoying a comfortable retirement, like the formula for weight loss, hasn’t really changed. A lot depends on whether an individual has the discipline to see it through.

Dividend stocks remain one of the core elements of a retirement portfolio. As individuals near retirement the ability to reinvest dividends allows for a greater total return. And once individuals need to live off their portfolio, the dividends provide a source of income without having to tap their principal.

However, not all dividend stocks are the same and many investors get sucked in by the allure of a high-yield dividend stock. But what you’re really looking for are companies with a history of increasing its dividend. The ability to increase a dividend over time illustrates that the company has a business model that can hold up regardless of how the broader economy is performing.

In this special presentation, we’ll highlight seven stocks that individuals can buy today to capture a stable, recurring dividend.

View the "7 Great Dividend Stocks to Buy For a Comfortable Retirement".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.