Brokerages Set Cloudflare, Inc. (NYSE:NET) Target Price at $87.50

Shares of Cloudflare, Inc. (NYSE:NET) have been given a consensus rating of “Hold” by the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $87.50.

NET has been the subject of a number of recent analyst reports. Needham & Company LLC upped their target price on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. KeyCorp upped their target price on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Royal Bank of Canada upped their target price on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Susquehanna upped their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Morgan Stanley upped their target price on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th.

Insider Activity

In other news, Director Carl Ledbetter sold 10,047 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $76.22, for a total value of $765,782.34. Following the completion of the sale, the director now owns 1,577,500 shares of the company’s stock, valued at $120,237,050. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Carl Ledbetter sold 10,047 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $76.22, for a total value of $765,782.34. Following the completion of the sale, the director now owns 1,577,500 shares of the company’s stock, valued at $120,237,050. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $81.43, for a total value of $244,290.00. Following the completion of the sale, the general counsel now directly owns 154,629 shares of the company’s stock, valued at approximately $12,591,439.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,069,816 shares of company stock valued at $100,238,148. Company insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Cloudflare during the third quarter worth approximately $569,000. Blueshift Asset Management LLC grew its stake in Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after purchasing an additional 12,974 shares during the period. SG Americas Securities LLC grew its stake in Cloudflare by 377.1% during the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock worth $1,749,000 after purchasing an additional 21,930 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Cloudflare during the fourth quarter worth approximately $27,288,000. Institutional investors and hedge funds own 73.14% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE NET opened at $99.04 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The stock’s fifty day moving average price is $92.78 and its two-hundred day moving average price is $78.01. Cloudflare has a one year low of $39.90 and a one year high of $116.00. The firm has a market cap of $33.44 billion, a price-to-earnings ratio of -180.07 and a beta of 1.14.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, equities analysts forecast that Cloudflare will post -0.19 EPS for the current year.

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.