Cloudflare, Inc. (NYSE:NET) Receives Consensus Rating of "Hold" from Analysts

Shares of Cloudflare, Inc. (NYSE:NET - Get Free Report) have been given a consensus rating of "Hold" by the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $97.81.

A number of research firms have recently commented on NET. Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Cloudflare from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Mizuho raised their price target on Cloudflare from $102.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Finally, UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th.

Insider Buying and Selling at Cloudflare

In other news, Director Maria S. Eitel sold 6,875 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. This trade represents a 53.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 629,592 shares of company stock worth $61,334,450 over the last three months. Company insiders own 12.83% of the company's stock.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of NET. Baillie Gifford & Co. increased its holdings in shares of Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company's stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock valued at $128,265,000 after acquiring an additional 855,334 shares during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the third quarter valued at about $25,588,000. American Century Companies Inc. increased its position in Cloudflare by 24.8% in the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company's stock worth $115,526,000 after purchasing an additional 277,228 shares during the period. Finally, Glynn Capital Management LLC bought a new stake in Cloudflare during the 2nd quarter worth about $16,765,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Up 3.8 %

NYSE:NET traded up $4.11 during trading hours on Friday, reaching $112.69. The company's stock had a trading volume of 5,113,855 shares, compared to its average volume of 3,167,304. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. Cloudflare has a one year low of $66.24 and a one year high of $119.42. The business's 50-day moving average is $98.69 and its 200-day moving average is $86.41.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts predict that Cloudflare will post -0.1 EPS for the current year.

Cloudflare Company Profile

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.