Cloudflare (NYSE:NET) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Cloudflare (NYSE:NET - Free Report) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $100.00 price objective on the stock.

A number of other equities analysts also recently weighed in on NET. JPMorgan Chase & Co. upped their target price on Cloudflare from $53.00 to $90.00 and gave the company a neutral rating in a report on Friday, February 9th. JMP Securities boosted their price target on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. Wells Fargo & Company boosted their price target on Cloudflare from $95.00 to $125.00 and gave the company an overweight rating in a research note on Friday, February 9th. DZ Bank cut Cloudflare from a buy rating to a hold rating and set a $110.00 price target for the company. in a research note on Tuesday, February 13th. Finally, KeyCorp boosted their price target on Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare has an average rating of Hold and an average price target of $87.08.

Cloudflare Price Performance

NYSE NET traded down $2.99 on Wednesday, reaching $88.05. The company's stock had a trading volume of 2,864,810 shares, compared to its average volume of 3,834,310. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a market cap of $29.73 billion, a PE ratio of -160.09 and a beta of 1.12. The firm's 50 day moving average is $96.93 and its two-hundred day moving average is $81.59.

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

Insider Activity

In other news, COO Michelle Zatlyn sold 277,376 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the sale, the chief operating officer now directly owns 38,545 shares of the company's stock, valued at $3,899,597.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Michelle Zatlyn sold 277,376 shares of the company's stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the transaction, the chief operating officer now directly owns 38,545 shares in the company, valued at $3,899,597.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares of the company's stock, valued at $17,202,674.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,070,903 shares of company stock valued at $103,653,456. 14.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company's stock worth $2,344,534,000 after acquiring an additional 740,914 shares in the last quarter. Capital World Investors raised its stake in Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company's stock worth $2,293,310,000 after acquiring an additional 487,308 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company's stock worth $274,583,000 after acquiring an additional 6,068,873 shares in the last quarter. State Street Corp raised its stake in Cloudflare by 5.3% during the first quarter. State Street Corp now owns 5,552,609 shares of the company's stock worth $664,647,000 after acquiring an additional 278,422 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Cloudflare by 4.0% during the first quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company's stock worth $233,843,000 after acquiring an additional 146,503 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.