Cloudflare, Inc. (NYSE:NET) Given Consensus Recommendation of “Hold” by Analysts

Cloudflare, Inc. (NYSE:NETGet Free Report) has received a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $64.24.

Several equities research analysts have commented on NET shares. Citigroup increased their price objective on shares of Cloudflare from $48.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, August 29th. Bank of America initiated coverage on shares of Cloudflare in a research note on Thursday, September 7th. They issued an “underperform” rating and a $52.00 price objective for the company. Needham & Company LLC raised their price target on shares of Cloudflare from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. The Goldman Sachs Group raised their price target on shares of Cloudflare from $38.00 to $43.00 and gave the stock a “sell” rating in a research note on Friday, August 4th. Finally, Morgan Stanley raised their price target on shares of Cloudflare from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th.

View Our Latest Stock Report on NET

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 16,901 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $72.13, for a total value of $1,219,069.13. Following the sale, the chief financial officer now directly owns 243,495 shares in the company, valued at approximately $17,563,294.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cloudflare news, Director Carl Ledbetter sold 8,039 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.99, for a total transaction of $450,103.61. Following the completion of the transaction, the director now directly owns 1,717,384 shares in the company, valued at $96,156,330.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 16,901 shares of the company’s 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 transaction, the chief financial officer now owns 243,495 shares of the company’s stock, valued at $17,563,294.35. The disclosure for this sale can be found here. Insiders have sold 585,083 shares of company stock valued at $36,909,929 in the last 90 days. Company insiders own 14.80% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of NET. Sunbelt Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Cloudflare in the third quarter valued at about $38,000. Alta Advisers Ltd acquired a new stake in shares of Cloudflare in the second quarter valued at about $39,000. Providence Capital Advisors LLC raised its position in shares of Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after buying an additional 2,426 shares during the last quarter. Finally, Richard W. Paul & Associates LLC grew its holdings in shares of Cloudflare by 172.1% in the second quarter. Richard W. Paul & Associates LLC now owns 721 shares of the company’s stock valued at $47,000 after purchasing an additional 456 shares during the period. 73.14% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Up 0.2 %

NET opened at $72.80 on Thursday. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. Cloudflare has a fifty-two week low of $37.56 and a fifty-two week high of $76.07. The firm has a market capitalization of $24.44 billion, a PE ratio of -119.34 and a beta of 0.97. The company’s 50-day moving average is $61.89 and its 200 day moving average is $62.55.

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, secure origin connection, and rate limiting products.

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Analyst Recommendations for Cloudflare (NYSE:NET)

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