Shares of Cloudflare, Inc. (NYSE:NET – Get Rating) have been assigned a consensus recommendation of “Hold” from the twenty-five brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $154.28.
A number of equities analysts recently weighed in on NET shares. Robert W. Baird lowered their target price on shares of Cloudflare from $210.00 to $130.00 and set a “neutral” rating for the company in a research note on Friday, February 11th. Morgan Stanley lifted their price target on shares of Cloudflare from $91.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 11th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $95.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, February 11th. Royal Bank of Canada lifted their price target on shares of Cloudflare from $130.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, November 5th. Finally, Truist Financial decreased their price target on shares of Cloudflare from $240.00 to $200.00 in a research note on Tuesday, January 18th.
In other Cloudflare news, CAO Paul D. Underwood sold 2,000 shares of the business’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $125.27, for a total value of $250,540.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michelle Zatlyn sold 5,555 shares of the business’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $100.46, for a total transaction of $558,055.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 631,752 shares of company stock worth $76,913,774. 20.69% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vienna Asset Management LLC purchased a new position in Cloudflare in the fourth quarter valued at about $180,000. Quent Capital LLC purchased a new position in Cloudflare in the fourth quarter valued at about $53,000. Rise Advisors LLC purchased a new position in Cloudflare in the fourth quarter valued at about $42,000. JustInvest LLC boosted its stake in Cloudflare by 33.5% in the fourth quarter. JustInvest LLC now owns 5,208 shares of the company’s stock valued at $685,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Wolf Hill Capital Management LP boosted its stake in Cloudflare by 20.3% in the fourth quarter. Wolf Hill Capital Management LP now owns 6,606 shares of the company’s stock valued at $869,000 after acquiring an additional 1,113 shares during the last quarter. Hedge funds and other institutional investors own 66.28% of the company’s stock.
Shares of NYSE NET opened at $116.42 on Tuesday. Cloudflare has a twelve month low of $60.96 and a twelve month high of $221.64. The firm has a fifty day simple moving average of $108.29 and a 200 day simple moving average of $138.19. The company has a market capitalization of $37.46 billion, a PE ratio of -140.27 and a beta of 0.80. The company has a quick ratio of 8.51, a current ratio of 8.51 and a debt-to-equity ratio of 1.34.
Cloudflare Company Profile
CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.