Shares of Cloudflare, Inc. (NYSE:NET - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty-seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $128.48.
Several research analysts have issued reports on NET shares. Wells Fargo & Company increased their price target on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their price target on Cloudflare from $140.00 to $183.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Finally, UBS Group increased their price target on Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a research report on Friday.
Check Out Our Latest Report on NET
Shares of NYSE NET opened at $166.88 on Friday. 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 company has a market capitalization of $57.27 billion, a PE ratio of -641.83 and a beta of 1.12. The firm has a fifty day simple moving average of $117.55 and a 200 day simple moving average of $96.24. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38.
Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, sell-side analysts forecast that Cloudflare will post -0.1 EPS for the current year.
In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares of the company's stock, valued at $17,115,283.62. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 over the last three months. Insiders own 12.83% of the company's stock.
Several institutional investors have recently made changes to their positions in NET. CVA Family Office LLC lifted its position in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock valued at $25,000 after buying an additional 171 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Cloudflare during the third quarter valued at approximately $38,000. Quarry LP boosted its position in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cloudflare in the third quarter worth $54,000. Finally, Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Institutional investors own 82.68% of the company's stock.
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.
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