Cloudflare (NYSE:NET) Now Covered by Oppenheimer

Equities researchers at Oppenheimer began coverage on shares of Cloudflare (NYSE:NET - Get Free Report) in a research report issued on Thursday. The firm set an "outperform" rating and a $150.00 price target on the stock. Oppenheimer's price target indicates a potential upside of 20.76% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler lowered their price target on shares of Cloudflare from $153.00 to $131.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Scotiabank increased 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. Finally, Wells Fargo & Company lifted their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $131.64.

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Cloudflare Stock Performance

NET stock traded up $5.00 during midday trading on Thursday, reaching $124.22. 3,110,313 shares of the company's stock traded hands, compared to its average volume of 3,026,385. The firm has a market capitalization of $42.86 billion, a PE ratio of -564.61 and a beta of 1.27. The company has a 50-day moving average price of $137.01 and a two-hundred day moving average price of $110.56. Cloudflare has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results 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 4.72% and a negative return on equity of 5.52%. As a group, equities analysts anticipate that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quarry LP grew 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 buying an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare in the fourth quarter worth $43,000. Quest Partners LLC purchased a new position in Cloudflare during the 3rd quarter valued at $54,000. Park Square Financial Group LLC purchased a new position in Cloudflare during the 4th quarter valued at $56,000. Finally, Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

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.