Cloudflare (NYSE:NET) Rating Reiterated by Cantor Fitzgerald

Cloudflare (NYSE:NET)‘s stock had its “neutral” rating reissued by equities researchers at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $100.00 target price on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 15.33% from the stock’s current price.

NET has been the topic of several other reports. Susquehanna raised their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 9th. KeyCorp lifted 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. Capital One Financial initiated coverage on Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, Truist Financial lifted their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $87.08.

Cloudflare Trading Down 1.5 %

Cloudflare stock opened at $86.71 on Wednesday. The company has a 50 day moving average price of $96.86 and a 200 day moving average price of $81.63. Cloudflare has a 52 week low of $39.90 and a 52 week high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The firm has a market capitalization of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) 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 firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Research analysts forecast that Cloudflare will post -0.2 EPS for the current year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the transaction, the director now owns 1,472,932 shares of the company’s stock, valued at approximately $127,968,332.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold 1,095,707 shares of company stock valued at $106,154,633 in the last three months. 14.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.