Cloudflare, Inc. (NYSE:NET) Receives $102.30 Average PT from Brokerages

Cloudflare, Inc. (NYSE:NET - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-eight brokerages that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $102.30.

NET has been the subject of a number of research analyst reports. Morgan Stanley raised Cloudflare from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Piper Sandler upped their target price on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. The Goldman Sachs Group upgraded Cloudflare from a "sell" rating to a "buy" rating and lifted their price target for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised their price objective on Cloudflare from $99.00 to $123.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $90.92, for a total transaction of $4,762,753.28. Following the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $978,390.12. This represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $90.88, for a total transaction of $1,363,200.00. Following the transaction, the chief financial officer now owns 281,403 shares of the company's stock, valued at $25,573,904.64. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 592,236 shares of company stock worth $61,512,210. 12.83% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

Institutional investors have recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after buying an additional 171 shares in the last quarter. Quarry LP raised its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the 3rd quarter worth approximately $38,000. Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after acquiring an additional 217 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Up 1.1 %

NYSE:NET traded up $1.22 during midday trading on Tuesday, hitting $111.93. 1,927,971 shares of the company traded hands, compared to its average volume of 2,819,925. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm's fifty day moving average is $105.89 and its 200-day moving average is $90.68. The firm has a market capitalization of $38.41 billion, a P/E ratio of -430.50 and a beta of 1.10. Cloudflare has a 12-month low of $66.24 and a 12-month high of $119.42.

Cloudflare (NYSE:NET - Get Free Report) last released its 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). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, sell-side 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.