Cloudflare (NYSE:NET) Shares Gap Down - Time to Sell?

Cloudflare, Inc. (NYSE:NET - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $142.91, but opened at $135.25. Cloudflare shares last traded at $133.88, with a volume of 1,110,268 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently commented on NET. Mizuho raised their price target on Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Jefferies Financial Group lifted their target price on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, December 19th. The Goldman Sachs Group lifted their target price on Cloudflare from $140.00 to $183.00 and gave the company a "buy" rating in a report on Friday, February 7th. Cantor Fitzgerald lifted their target price on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Oppenheimer lowered Cloudflare from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $136.28.

Cloudflare Trading Down 3.4 %

The firm has a market capitalization of $43.67 billion, a price-to-earnings ratio of -575.30 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a fifty day moving average price of $135.81 and a 200 day moving average price of $107.33.

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Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares of the company's stock, 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 at the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. In the last three months, insiders sold 623,046 shares of company stock valued at $79,594,844. Company insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the 3rd quarter valued at about $38,000. Quarry LP raised its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the 4th quarter valued at about $43,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at about $56,000. Institutional investors and hedge funds 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.