Brokerages Set Cloudflare, Inc. (NYSE:NET) Price Target at $92.29

Cloudflare, Inc. (NYSE:NET) has earned a consensus recommendation of “Hold” from the twenty-six research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $91.20.

Several research analysts recently issued reports on NET shares. Piper Sandler raised their target price on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Mizuho lifted their target price on shares of Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th.

Insider Activity

In related news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cloudflare news, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total transaction of $231,510.00. Following the transaction, the insider now owns 195,303 shares of the company’s stock, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 417,784 shares of company stock worth $33,130,625. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of the company. CVA Family Office LLC lifted its stake in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Cloudflare during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare in the 2nd quarter valued at $29,000. Finally, Quarry LP increased its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 8.8 %

NYSE NET opened at $92.46 on Friday. The company has a fifty day simple moving average of $80.60 and a two-hundred day simple moving average of $81.20. The stock has a market cap of $31.42 billion, a P/E ratio of -174.45 and a beta of 1.10. Cloudflare has a 12-month low of $53.88 and a 12-month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter last year, the company posted ($0.12) earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, analysts forecast that Cloudflare will post -0.13 earnings per share for the current year.

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.