Cloudflare (NYSE:NET) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Cloudflare (NYSE:NETFree Report) in a report issued on Friday morning, MarketBeat reports. They currently have a $100.00 target price on the stock, up from their previous target price of $70.00.

NET has been the subject of several other reports. Wells Fargo & Company boosted their target price on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada decreased their target price on Cloudflare from $70.00 to $65.00 and set an outperform rating for the company in a research report on Friday, November 3rd. Sanford C. Bernstein started coverage on Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 target price for the company. JMP Securities boosted their price objective on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research report on Wednesday, January 31st. Finally, Oppenheimer upgraded Cloudflare from a market perform rating to an outperform rating in a research report on Tuesday, November 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of Hold and an average price target of $85.13.

View Our Latest Analysis on Cloudflare

Cloudflare Stock Performance

Cloudflare stock opened at $107.92 on Friday. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of -196.21 and a beta of 1.10. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.83. The stock has a 50-day simple moving average of $81.90 and a 200 day simple moving average of $70.28.

Insider Activity at Cloudflare

In other news, CFO Thomas J. Seifert sold 16,901 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $72.13, for a total transaction of $1,219,069.13. Following the sale, the chief financial officer now directly owns 243,495 shares of the company’s stock, valued at approximately $17,563,294.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Thomas J. Seifert sold 16,901 shares of Cloudflare stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $72.13, for a total transaction of $1,219,069.13. Following the sale, the chief financial officer now directly owns 243,495 shares of the company’s stock, valued at $17,563,294.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated 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 owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 889,020 shares of company stock worth $68,637,610. Company insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NET. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare during the 1st quarter valued at $29,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. GAMMA Investing LLC purchased a new position in Cloudflare during the fourth quarter worth about $39,000. Providence Capital Advisors LLC grew its position in Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after buying an additional 2,426 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after buying an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.

Cloudflare Company Profile

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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, secure origin connection, and rate limiting products.

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