Cloudflare, Inc. (NYSE:NET - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $107.68, but opened at $114.50. Cloudflare shares last traded at $114.48, with a volume of 1,008,140 shares traded.
Wall Street Analyst Weigh In
NET has been the subject of several recent research reports. Mizuho increased their price target on Cloudflare from $102.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a "hold" rating to a "buy" rating and raised their target price for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Finally, Scotiabank increased their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research report on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $100.48.
View Our Latest Report on NET
Cloudflare Trading Up 4.5 %
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 cap of $38.62 billion, a price-to-earnings ratio of -432.85 and a beta of 1.10. The firm has a 50 day moving average price of $102.30 and a two-hundred day moving average price of $88.83.
Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.03). The business had revenue of $430.08 million during 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%. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.
Insider Activity
In related news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $90.88, for a total value of $1,363,200.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company's stock, valued at $25,573,904.64. The trade was a 5.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total value of $4,921,476.80. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $1,010,995.95. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 614,592 shares of company stock valued at $60,146,600 in the last ninety days. 12.83% of the stock is owned by company insiders.
Hedge Funds Weigh In On Cloudflare
Institutional investors have recently modified their holdings of the company. Marshall Wace LLP increased its stake in Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock valued at $128,265,000 after purchasing an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare in the 3rd quarter worth about $25,588,000. American Century Companies Inc. lifted its position in Cloudflare by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company's stock valued at $115,526,000 after acquiring an additional 277,228 shares in the last quarter. Glynn Capital Management LLC acquired a new position in Cloudflare during the 2nd quarter valued at about $16,765,000. Finally, International Assets Investment Management LLC bought a new stake in Cloudflare during the 3rd quarter worth approximately $147,160,000. 82.68% of the stock is owned by institutional investors and hedge funds.
About Cloudflare
(
Get Free Report)
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.
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