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

Shares of Cloudflare, Inc. (NYSE:NET) have received a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $87.08.

NET has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target for the company. Wells Fargo & Company lifted their price target on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 9th. KeyCorp increased their price objective on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Truist Financial lifted their target price on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Capital One Financial initiated coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target for the company.

Cloudflare Price Performance

NYSE NET opened at $84.10 on Friday. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00. The business’s fifty day moving average is $96.38 and its two-hundred day moving average is $81.78. The stock has a market capitalization of $28.40 billion, a P/E ratio of -152.91 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, research analysts forecast that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Ledbetter sold 66,384 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the completion of the sale, the director now directly owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The disclosure for this sale can be found here. Insiders have sold 1,110,707 shares of company stock worth $107,459,933 over the last three months. Company insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in Cloudflare in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare in the 1st quarter worth about $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth about $38,000. Finally, GAMMA Investing LLC bought a new position in Cloudflare during the 4th quarter valued at about $39,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.