Cloudflare (NYSE:NET) Upgraded by DZ Bank to Buy

DZ Bank upgraded shares of Cloudflare (NYSE:NET) from a hold rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have $95.00 price target on the stock.

A number of other brokerages have also weighed in on NET. Cantor Fitzgerald cut their price target on shares of Cloudflare from $100.00 to $80.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. TD Cowen cut their price objective on shares of Cloudflare from $117.00 to $110.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Susquehanna lowered their target price on Cloudflare from $115.00 to $80.00 and set a neutral rating for the company in a report on Monday. UBS Group cut their price target on Cloudflare from $88.00 to $76.00 and set a sell rating on the stock in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Cloudflare from $90.00 to $80.00 and set a neutral rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $89.48.

Cloudflare Stock Down 0.2 %

Cloudflare stock opened at $74.12 on Tuesday. Cloudflare has a fifty-two week low of $44.60 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of -139.85 and a beta of 1.15. The company’s 50 day simple moving average is $92.69 and its 200 day simple moving average is $83.93.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, sell-side analysts anticipate that Cloudflare will post -0.2 EPS for the current year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $73.97, for a total value of $1,109,550.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 277,376 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the sale, the chief operating officer now directly owns 38,545 shares in the company, valued at $3,899,597.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,036,385 shares of company stock worth $101,055,510. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of Cloudflare during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 238 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at about $38,000. GAMMA Investing LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $39,000. Finally, Pingora Partners LLC bought a new position in shares of Cloudflare during the fourth quarter worth about $42,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.