Cloudflare (NYSE:NET) Stock Rating Reaffirmed by Cantor Fitzgerald

Cloudflare (NYSE:NETGet Free Report)‘s stock had its “neutral” rating restated by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $80.00 price target on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 3.64% from the company’s previous close.

NET has been the topic of several other research reports. UBS Group lowered their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 target price (down from $110.00) on shares of Cloudflare in a report on Friday, May 3rd. Oppenheimer lowered their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, TD Cowen lowered their price target on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average target price of $90.70.

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Cloudflare Stock Down 1.6 %

Shares of Cloudflare stock traded down $1.26 during trading on Friday, hitting $77.19. The company’s stock had a trading volume of 1,355,567 shares, compared to its average volume of 3,725,502. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market capitalization of $26.23 billion, a PE ratio of -145.17 and a beta of 1.08. The company has a fifty day simple moving average of $77.95 and a two-hundred day simple moving average of $85.26. Cloudflare has a 52 week low of $53.88 and a 52 week high of $116.00.

Cloudflare (NYSE:NETGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $378.60 million during the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities research analysts predict that Cloudflare will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Katrin Suder sold 574 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total value of $38,521.14. Following the completion of the sale, the director now directly owns 51,162 shares of the company’s stock, valued at approximately $3,433,481.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36. Following the transaction, the chief executive officer now owns 230,612 shares of the company’s stock, valued at approximately $22,147,976.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katrin Suder sold 574 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $67.11, for a total transaction of $38,521.14. Following the completion of the sale, the director now directly owns 51,162 shares of the company’s stock, valued at $3,433,481.82. The disclosure for this sale can be found here. Insiders have sold 662,119 shares of company stock valued at $54,101,374 over the last ninety days. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

A number of large investors have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Cloudflare in the first quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. ICA Group Wealth Management LLC bought a new stake in Cloudflare during the 4th quarter valued at $38,000. GAMMA Investing LLC purchased a new position in shares of Cloudflare in the 4th quarter valued at $39,000. Finally, Pingora Partners LLC bought a new position in shares of Cloudflare in the 4th quarter worth $42,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cloudflare (NYSE:NET)

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