Cloudflare, Inc. (NYSE:NET) Earns Analyst’s Unanimous “Hold” Rating


Cloudflare, Inc. (NYSE: NET – Get Rating) has received an average “hold” recommendation from the 25 research firms that currently cover the company, according to Marketbeat. One analyst has a sell recommendation on the stock, nine have a hold recommendation and seven have a buy recommendation. Analysts reporting on the stock last year had an average 12-month price target of $130.38.

Several analysts have recently released reports on the stock. Needham & Company LLC lowered its price target on Cloudflare stock to $100.00 from $245.00 in a research note on Monday, May 16, and assigned a “na” rating to the company. In a research note on Tuesday, Feb. 15, Argus lowered its price target on Cloudflare stock to $160.00 from $230.00. Jefferies Financial Group lowered its price target on Cloudflare stock to $55.00 from $75.00 in a research note on Monday, May 23. Piper Sandler raised his price target on Cloudflare stock to $125.00 from $115.00 in a report on Friday, Feb. 11, and gave the stock a “neutral” rating. Finally, Wells Fargo raised its price target on Cloudflare stock from $95.00 to $120.00 in a report on Friday, Feb. 11, with an “equal weight” rating on the stock.

NET stock opened Thursday at $55.06. The company has a market cap of $17.96 billion, a price-to-earnings ratio of -66.34, and a beta of 1.06. Cloudflare’s 52-week low was $50.03 and its 52-week high was $221.64. The company’s quick ratio is 6.85, its current ratio is 6.85, and its debt-to-equity ratio is 2.78. The company has a 50-day moving average of $81.59 and a 200-day moving average of $106.68.

Cloudflare (NYSE:NET – Get Rating) released its quarterly earnings numbers on Thursday, May 5. The company reported EPS of $0.01 for the quarter, beating the consensus estimate of $0.09 by $0.10. The company’s revenue for the quarter was $212.2 million, compared with the consensus estimate of $205.66 million. Cloudflare’s net profit margin was negative 35.83% and its return on equity was 17.74%. The company’s quarterly revenue rose 53.7% year over year. In the same quarter last year, the company reported earnings per share ($0.11). Analysts expect Cloudflare’s earnings per share for the year to be -0.41.

In other news, CEO Matthew Prince sold 52,384 shares of the company in trading on Monday, June 6. The stock sold at an average price of $54.66 for a total transaction value of $2,863,309.44. The sale was disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed at this link. Additionally, director Carl Ledbetter sold 450 shares of the company in Monday, April 4 trading. Shares sold at an average price of $128.40 for a total value of $57,780.00. After the sale, the director now owns 9,063 shares of the company, valued at $1,163,689.20. Disclosures for this sale can be found here. Insiders sold a total of 477,401 shares of the company worth $46,608,795 in the past 90 days. Company insiders currently own 20.69% of the shares.

Hedge funds and other institutional investors have recently revised their holdings in the company. International Assets Investment Management LLC increased its stake in Cloudflare by 3.6% in the fourth quarter. International Asset Investment Management LLC now owns 2,987 shares of the company’s stock valued at $393,000 after purchasing an additional 104 shares in the previous quarter. Signaturefd LLC increased its stake in Cloudflare by 1.2% in the first quarter. Signaturefd LLC now owns 10,606 shares of the company’s stock valued at $1,270,000 after purchasing another 125 shares last quarter. Private Capital Group LLC increased its stake in Cloudflare by 109.2% in the first quarter. Private Capital Group LLC now owns 251 shares of the company’s stock, worth $30,000, after purchasing an additional 131 shares in the previous quarter. Cetera Investment Advisers increased its stake in Cloudflare by 2.4% in the fourth quarter. Cetera Investment Advisers now owns 6,184 shares of the company’s stock, worth $813,000, after buying another 145 shares last quarter. Finally, Clearstead Advisors LLC increased its stake in Cloudflare by 93.8% in the first quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock, worth $37,000, after buying another 150 shares last quarter. 69.96% of the shares are held by institutional investors.

About Cloudflare (get a rating)

CloudFlare, Inc operates as a cloud service provider, offering a range of services to businesses around the world. The company provides integrated cloud-based security solutions to protect a portfolio of platforms, including public cloud, private cloud, on-premises, software-as-a-service applications and IoT devices.

Further reading

Analyst recommendations for Cloudflare (NYSE: NET)



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