Cloudflare, Inc. (NYSE:NET) Has Average “Hold” Recommendation From Analysts

Shares of Cloudflare, Inc. (NYSE: NET – Get Rating) have an average “hold” rating of the 25 analysts who currently cover the company, according to MarketBeat. One analyst has a sell recommendation on the stock, nine analysts have a hold recommendation, and seven analysts have a buy recommendation on the company. Brokers that updated their stock coverage last year have an average 1-year price target of $130.38.

NET has been the subject of many recent research reports. 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 gave the company a “na” rating. Citigroup lowered its price target on Cloudflare stock to $95.00 from $120.00 in a research note on Friday, May 6. Zacks Investment Research downgraded Cloudflare’s stock from a “buy” rating to a “hold” rating in a research note on Thursday, April 14. Morgan Stanley raised its price target on Cloudflare stock to $100.00 from $91.00 in a report on Friday, Feb. 11, giving the company an “equal weight” rating. Finally, Cowen lowered its price target on Cloudflare stock from $250.00 to $200.00 in a Monday, May 2 report.

Shares of NYSE NET opened Thursday at $55.06. Cloudflare has a 1-year low of $50.03 and a 1-year high of $221.64. The company has a market cap of $17.96 billion, a price-to-earnings ratio of -66.34, and a beta of 1.06. The company’s current ratio is 6.85, its quick 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) last reported quarterly earnings results on Thursday, May 5. The company reported EPS of $0.01 for the quarter, beating analysts’ consensus estimate of $0.09 by $0.10. The business reported revenue of $212.2 million for the quarter, 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%. Cloudflare’s revenue for the quarter was up 53.7% compared to the same period last year. In the same period last year, the company reported earnings per share ($0.11). As a group, equity research analysts forecast Cloudflare earnings per share of -0.41 for the current year.

In other news, CEO Matthew Prince sold 52,384 shares of the company in trading on Monday, June 6. The average selling price of these shares was $54.66 for a total value of $2,863,309.44. The sale was disclosed in a 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. The stock sold at an average price of $128.40 for a total volume of $57,780.00. Following the sale, the directors now directly own 9,063 shares of the company, valued at approximately $1,163,689.20. Disclosures for this sale can be found here. Insiders sold 477,401 shares of the company, worth $46,608,795, in the last quarter. Company insiders hold 20.69% of the company.

Many hedge funds and other institutional investors have recently bought and sold the company’s stock. International Assets Investment Management LLC raised its position 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 buying an additional 104 shares in the previous quarter. Signaturefd LLC increased its position in Cloudflare by 1.2% in the first quarter. Signaturefd LLC now owns 10,606 shares of the company, valued at $1,270,000, after buying an additional 125 shares in the previous quarter. Private Capital Group LLC increased its position in Cloudflare by 109.2% in the first quarter. Private Capital Group LLC now owns 251 shares of the company’s stock, valued at $30,000, after acquiring an additional 131 shares in the previous quarter. Cetera Investment Advisers increased its position in Cloudflare by 2.4% in the fourth quarter. Cetera Investment Advisers now owns 6,184 shares of the company, worth $813,000, after buying an additional 145 shares in the previous quarter. Finally, Clearstead Advisors LLC increased its position in Cloudflare by 93.8% in the first quarter. After purchasing an additional 150 shares last quarter, Clearstead Advisors LLC now owns 310 shares of the company’s stock, worth $37,000. 69.96% of the stock is currently held by hedge funds and other 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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