Cloudflare’s (NET) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Cloudflare (NYSE:NET) in a report issued on Wednesday morning, Benzinga reports. The firm currently has a $100.00 price objective on the stock.

Several other analysts have also recently commented on the company. Capital One Financial initiated coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an equal weight rating and a $83.00 target price on the stock. Royal Bank of Canada lifted their price target on Cloudflare from $95.00 to $108.00 and gave the company an outperform rating in a research report on Friday, February 9th. Mizuho lowered their price target on Cloudflare from $105.00 to $95.00 and set a neutral rating on the stock in a research report on Monday, April 15th. Truist Financial lifted their price target on Cloudflare from $90.00 to $120.00 and gave the company a buy rating in a research report on Friday, February 9th. Finally, KeyCorp lifted their price target on Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of Hold and an average price target of $87.08.

Cloudflare Stock Down 3.0 %

Shares of Cloudflare stock opened at $84.10 on Wednesday. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The business’s 50 day simple moving average is $96.38 and its 200-day simple moving average is $81.78.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. As a group, equities research analysts expect that Cloudflare will post -0.2 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 66,384 shares of Cloudflare stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the transaction, the director now owns 1,472,932 shares in the company, valued at $127,968,332.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of Cloudflare stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold 1,110,707 shares of company stock worth $107,459,933 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after buying an additional 6,068,873 shares during the last quarter. Norges Bank purchased a new position in Cloudflare during the 4th quarter valued at about $124,592,000. 1832 Asset Management L.P. lifted its position in Cloudflare by 121.2% during the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after acquiring an additional 1,597,900 shares during the period. Two Sigma Investments LP lifted its position in Cloudflare by 215.1% during the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after acquiring an additional 918,096 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

About Cloudflare

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.