Cloudflare, Inc. (NYSE:NET) Receives $230.70 Average Target Price from Analysts

Cloudflare, Inc. (NYSE:NET) has received a consensus rating of “Moderate Buy” from the thirty analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $230.7037.

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on shares of Cloudflare from $185.00 to $225.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. KeyCorp reiterated an “overweight” rating on shares of Cloudflare in a research report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. New Street Research set a $140.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company raised their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th.

Cloudflare Trading Down 8.1%

NET stock opened at $176.99 on Wednesday. Cloudflare has a 1-year low of $89.42 and a 1-year high of $260.00. The firm has a market cap of $62.00 billion, a P/E ratio of -610.29 and a beta of 1.97. The business’s 50 day moving average is $188.52 and its 200-day moving average is $204.31. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The business had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same quarter last year, the company earned $0.19 EPS. Cloudflare’s revenue was up 33.6% on a year-over-year basis. Equities analysts anticipate that Cloudflare will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $173.35, for a total transaction of $436,842.00. Following the sale, the director owned 495,191 shares in the company, valued at approximately $85,841,359.85. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $211.16, for a total value of $3,167,400.00. Following the completion of the transaction, the director directly owned 953,073 shares of the company’s stock, valued at $201,250,894.68. This represents a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 403,734 shares of company stock worth $79,426,703. 10.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently added to or reduced their stakes in the stock. HM Payson & Co. bought a new position in shares of Cloudflare in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. increased its holdings in shares of Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Wiser Advisor Group LLC acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $26,000. Westside Investment Management Inc. raised its position in Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare during the 2nd quarter worth $29,000. Institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.