Cloudflare (NYSE:NET) Downgraded by Baird R W to Hold

Cloudflare (NYSE:NET - Get Free Report) was downgraded by stock analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

NET has been the subject of several other research reports. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a research note on Friday, January 17th. They set a "neutral" rating and a $111.00 price objective for the company. BNP Paribas assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price target for the company. Scotiabank lifted their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Morgan Stanley upped their target price on Cloudflare from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group lifted their price target on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $112.32.

Cloudflare Price Performance

Shares of Cloudflare stock traded up $4.00 on Monday, reaching $144.14. The company's stock had a trading volume of 3,474,516 shares, compared to its average volume of 3,188,381. 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 $49.47 billion, a P/E ratio of -554.38 and a beta of 1.12. The stock has a 50-day moving average price of $116.71 and a 200-day moving average price of $95.92. Cloudflare has a 52-week low of $66.24 and a 52-week high of $144.30.

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

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at $18,370,199.43. This represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % 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. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. Quarry LP grew its position in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Cloudflare during the second quarter worth about $906,000. SG Americas Securities LLC increased its position in Cloudflare by 45.4% in the 3rd quarter. SG Americas Securities LLC now owns 25,940 shares of the company's stock valued at $2,098,000 after acquiring an additional 8,099 shares during the period. Diversified Trust Co purchased a new stake in Cloudflare during the 3rd quarter valued at approximately $471,000. Finally, MBM Wealth Consultants LLC lifted its position in Cloudflare by 7.8% during the 3rd quarter. MBM Wealth Consultants LLC now owns 16,533 shares of the company's stock worth $1,337,000 after acquiring an additional 1,202 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

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.