Cloudflare (NYSE:NET) Trading Up 2.2% – What’s Next?

Cloudflare, Inc. (NYSE:NET) shares rose 2.2% during trading on Wednesday . The company traded as high as $146.58 and last traded at $146.32. Approximately 943,515 shares were traded during trading, a decline of 76% from the average daily volume of 3,921,136 shares. The stock had previously closed at $143.14.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Truist Financial raised their target price on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Susquehanna lifted their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Stifel Nicolaus lifted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price on shares of Cloudflare in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $136.28.

Cloudflare Stock Up 1.5 %

The firm’s 50 day moving average price is $131.29 and its 200-day moving average price is $104.42. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $49.84 billion, a P/E ratio of -663.04 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 533,278 shares of company stock worth $66,134,227. 12.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of NET. Allspring Global Investments Holdings LLC raised its holdings in Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after buying an additional 119 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Cloudflare by 12.1% during the third quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company’s stock valued at $226,000 after buying an additional 303 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Cloudflare by 27.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,918 shares of the company’s stock valued at $398,000 after purchasing an additional 1,057 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Cloudflare by 21.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,455 shares of the company’s stock worth $279,000 after acquiring an additional 602 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Cloudflare by 40.0% in the third quarter. Ballentine Partners LLC now owns 3,718 shares of the company’s stock worth $301,000 after purchasing an additional 1,062 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.