Cantor Fitzgerald Reaffirms “Neutral” Rating for Cloudflare (NYSE:NET)

Cloudflare (NYSE:NET)‘s stock had its “neutral” rating restated by stock analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports. They presently have a $100.00 price target on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 13.87% from the stock’s previous close.

Several other analysts have also weighed in on NET. Needham & Company LLC raised their price objective on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Sanford C. Bernstein began coverage on Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley increased their target price on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, Susquehanna raised their price objective on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $87.08.

Cloudflare Price Performance

Shares of NET traded down $3.22 during trading hours on Wednesday, hitting $87.82. 1,944,292 shares of the company were exchanged, compared to its average volume of 3,819,576. The company has a market cap of $29.65 billion, a price-to-earnings ratio of -160.22 and a beta of 1.12. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm’s fifty day moving average is $96.84 and its 200 day moving average is $81.55.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, equities analysts anticipate that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,070,903 shares of company stock valued at $103,653,456. Company insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in Cloudflare in the first quarter worth $27,000. ICA Group Wealth Management LLC purchased a new position in Cloudflare in the fourth quarter worth $38,000. GAMMA Investing LLC bought a new stake in shares of Cloudflare in the fourth quarter valued at $39,000. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare in the first quarter valued at $29,000. Finally, Pingora Partners LLC bought a new stake in shares of Cloudflare in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.