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

Cloudflare, Inc. (NYSE:NET - Get Free Report) has earned an average recommendation of "Hold" from the twenty-three analysts that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $87.50.

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a "market perform" rating and a $85.00 price target on the stock. Susquehanna increased their price target on shares of Cloudflare from $75.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Royal Bank of Canada increased their price target on shares of Cloudflare from $95.00 to $108.00 and gave the stock an "outperform" rating in a research note on Friday, February 9th. Wells Fargo & Company increased their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, February 9th. Finally, Truist Financial increased their price target on shares of Cloudflare from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, February 9th.

Cloudflare Price Performance

NYSE NET traded down $2.32 during trading hours on Friday, reaching $93.76. The company's stock had a trading volume of 2,503,892 shares, compared to its average volume of 2,328,784. The stock has a market cap of $31.66 billion, a PE ratio of -170.47 and a beta of 1.12. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The company's 50-day moving average is $96.46 and its two-hundred day moving average is $81.16. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million for the quarter, compared to analysts' expectations of $352.70 million. Analysts forecast that Cloudflare will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 243,495 shares in the company, valued at $18,926,866.35. The disclosure for this sale can be found here. Insiders sold a total of 1,113,937 shares of company stock valued at $106,926,869 in the last ninety days. Corporate insiders own 14.80% of the company's stock.

Institutional Trading of Cloudflare

Several hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC raised its position in shares of Cloudflare by 4.0% during the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company's stock worth $283,000 after buying an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Cloudflare by 0.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company's stock worth $2,278,000 after buying an additional 132 shares in the last quarter. Quent Capital LLC grew its stake in shares of Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company's stock worth $156,000 after purchasing an additional 140 shares during the last quarter. CWM LLC grew its stake in shares of Cloudflare by 3.4% in the 3rd quarter. CWM LLC now owns 4,624 shares of the company's stock worth $291,000 after purchasing an additional 153 shares during the last quarter. Finally, RFG Advisory LLC grew its stake in shares of Cloudflare by 2.9% in the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company's stock worth $376,000 after purchasing an additional 166 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.