Cloudflare (NYSE:NET) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Cloudflare (NYSE:NET - Free Report) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $111.00 price target on the stock.

A number of other research analysts have also weighed in on NET. Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Royal Bank of Canada boosted their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Piper Sandler lifted their price target on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Jefferies Financial Group upped 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. Finally, The Goldman Sachs Group upgraded shares of Cloudflare from a "sell" rating to a "buy" rating and raised their price objective for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $105.30.

Cloudflare Stock Up 2.6 %

NYSE NET traded up $2.99 during trading on Friday, hitting $117.81. 2,207,203 shares of the company traded hands, compared to its average volume of 2,638,593. The company has a market capitalization of $40.43 billion, a P/E ratio of -454.15 and a beta of 1.10. The business has a fifty day simple moving average of $107.20 and a 200 day simple moving average of $91.22. Cloudflare has a 12 month low of $66.24 and a 12 month high of $121.02. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share 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 firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, sell-side analysts predict that Cloudflare will post -0.1 EPS for the current year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 524,852 shares of company stock valued at $55,386,256 in the last three months. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of the stock. Atomi Financial Group Inc. increased its holdings in shares of Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after purchasing an additional 94 shares in the last quarter. Wealth Management Partners LLC boosted its position in Cloudflare by 3.3% in the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company's stock valued at $382,000 after buying an additional 114 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock valued at $80,000 after buying an additional 119 shares during the period. Quarry LP raised its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co raised its position in shares of Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company's stock worth $2,253,000 after acquiring an additional 136 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

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.