Cloudflare (NYSE:NET) Cut to “Sell” at DZ Bank

DZ Bank lowered shares of Cloudflare (NYSE:NET) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, MarketBeat reports. DZ Bank currently has $145.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group boosted their price target on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Susquehanna boosted their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday. Royal Bank of Canada boosted their price target on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus boosted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $135.28.

Cloudflare Stock Performance

NYSE NET opened at $176.28 on Tuesday. The company’s 50 day moving average is $122.83 and its 200-day moving average is $98.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $60.50 billion, a P/E ratio of -801.28 and a beta of 1.12. Cloudflare has a 12-month low of $66.24 and a 12-month high of $176.73.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts predict that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $24,030,141.07. This trade represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 528,970 shares of company stock valued at $59,959,801. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of NET. CWM LLC grew its holdings in shares of Cloudflare by 91.0% in the third quarter. CWM LLC now owns 9,690 shares of the company’s stock valued at $784,000 after purchasing an additional 4,617 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Cloudflare by 285.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,296 shares of the company’s stock valued at $186,000 after purchasing an additional 1,700 shares in the last quarter. Inspire Investing LLC boosted its stake in Cloudflare by 12.4% during the third quarter. Inspire Investing LLC now owns 3,550 shares of the company’s stock worth $287,000 after buying an additional 391 shares during the period. CVA Family Office LLC boosted its stake in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the period. Finally, Creative Planning increased its position in Cloudflare by 17.8% during the third quarter. Creative Planning now owns 31,519 shares of the company’s stock valued at $2,550,000 after acquiring an additional 4,756 shares during the last quarter. Institutional investors 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.