Cloudflare (NYSE:NET) Upgraded to "Buy" at DZ Bank

DZ Bank upgraded shares of Cloudflare (NYSE:NET - Free Report) from a hold rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. DZ Bank currently has $95.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird decreased their target price on Cloudflare from $100.00 to $94.00 and set an outperform rating for the company in a research report on Friday. Morgan Stanley upped their target price on Cloudflare from $66.00 to $92.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. JPMorgan Chase & Co. reduced their price target on Cloudflare from $90.00 to $80.00 and set a neutral rating for the company in a report on Friday. Needham & Company LLC reissued a buy rating and issued a $135.00 price target on shares of Cloudflare in a report on Friday. Finally, TD Cowen reduced their price target on Cloudflare from $117.00 to $110.00 and set a buy rating for the company in a report on Friday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $89.48.

Cloudflare Stock Performance

NET traded down $0.18 during trading on Tuesday, hitting $74.12. 4,121,092 shares of the stock were exchanged, compared to its average volume of 3,963,319. The firm has a market capitalization of $25.03 billion, a P/E ratio of -140.17 and a beta of 1.15. Cloudflare has a 1-year low of $44.60 and a 1-year high of $116.00. The stock has a fifty day moving average price of $93.17 and a two-hundred day moving average price of $83.83. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. As a group, sell-side analysts predict that Cloudflare will post -0.2 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the transaction, the director now directly owns 1,446,957 shares of the company's stock, valued at $117,811,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Douglas James Kramer sold 6,000 shares of the business's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.08, for a total transaction of $660,480.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company's stock, valued at $23,789,829.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl Ledbetter sold 7,962 shares of the business's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the sale, the director now directly owns 1,446,957 shares of the company's stock, valued at $117,811,238.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,044,347 shares of company stock worth $101,703,776. Insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG lifted its stake in shares of Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company's stock valued at $85,243,000 after buying an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Cloudflare in the 3rd quarter worth approximately $569,000. International Assets Investment Management LLC bought a new position in shares of Cloudflare in the 4th quarter worth $11,639,000. Blueshift Asset Management LLC increased its holdings in shares of Cloudflare by 100.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company's stock worth $1,634,000 after buying an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier grew its holdings in shares of Cloudflare by 4.5% during the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company's stock valued at $33,937,000 after purchasing an additional 17,600 shares during the last quarter. 82.68% of the stock is 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.