Cloudflare (NYSE:NET – Get Rating) is scheduled to release its earnings data after the market closes on Thursday, February 9th. Analysts expect Cloudflare to post earnings of $0.04 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Cloudflare (NYSE:NET – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Cloudflare had a negative return on equity of 27.82% and a negative net margin of 25.16%. The firm had revenue of $253.86 million for the quarter, compared to analyst estimates of $250.20 million. On average, analysts expect Cloudflare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Cloudflare Price Performance
Cloudflare stock opened at $55.51 on Thursday. The stock’s fifty day moving average price is $46.09 and its two-hundred day moving average price is $53.33. Cloudflare has a one year low of $37.37 and a one year high of $132.45. The company has a debt-to-equity ratio of 2.42, a current ratio of 5.35 and a quick ratio of 5.35. The firm has a market cap of $18.24 billion, a PE ratio of -79.30 and a beta of 1.03.
Wall Street Analyst Weigh In
NET has been the topic of a number of recent research reports. Guggenheim lowered Cloudflare from a “neutral” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, January 17th. Morgan Stanley lowered their price objective on Cloudflare from $52.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 24th. Credit Suisse Group decreased their price target on Cloudflare from $125.00 to $95.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Mizuho dropped their price objective on Cloudflare from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, January 20th. Finally, Wells Fargo & Company upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $62.00 to $65.00 in a research report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $75.13.
Insider Activity
In other news, General Counsel Douglas James Kramer sold 4,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $55.99, for a total transaction of $251,955.00. Following the completion of the transaction, the general counsel now directly owns 62,299 shares of the company’s stock, valued at approximately $3,488,121.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Matthew Prince sold 74,710 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $39.90, for a total value of $2,980,929.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Douglas James Kramer sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $55.99, for a total transaction of $251,955.00. Following the completion of the transaction, the general counsel now directly owns 62,299 shares of the company’s stock, valued at $3,488,121.01. The disclosure for this sale can be found here. Insiders sold 519,285 shares of company stock valued at $24,079,576 in the last three months. Company insiders own 15.99% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the business. Toroso Investments LLC boosted its holdings in Cloudflare by 9.8% in the 3rd quarter. Toroso Investments LLC now owns 6,611 shares of the company’s stock worth $366,000 after buying an additional 589 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Cloudflare in the 3rd quarter valued at $410,000. M&T Bank Corp boosted its holdings in Cloudflare by 5.2% in the 3rd quarter. M&T Bank Corp now owns 10,415 shares of the company’s stock valued at $575,000 after purchasing an additional 518 shares during the period. Captrust Financial Advisors boosted its holdings in Cloudflare by 365.7% in the 3rd quarter. Captrust Financial Advisors now owns 5,751 shares of the company’s stock valued at $318,000 after purchasing an additional 4,516 shares during the period. Finally, Alpha Paradigm Partners LLC purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $79,000. 69.97% of the stock is owned by institutional investors.
About Cloudflare
CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.