Cloudflare’s (NET) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp reaffirmed their market outperform rating on shares of Cloudflare (NYSE:NET) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $394.00 price objective on the stock.

NET has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised shares of Cloudflare to a “buy” rating in a research report on Tuesday, July 7th. Citigroup restated a “market outperform” rating on shares of Cloudflare in a research note on Monday. Guggenheim upped their target price on shares of Cloudflare from $140.00 to $160.00 and gave the company a “sell” rating in a report on Friday, August 7th. Wells Fargo & Company raised their target price on shares of Cloudflare from $300.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Susquehanna lifted their price target on Cloudflare from $200.00 to $300.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Cloudflare has an average rating of “Moderate Buy” and an average target price of $320.19.

Cloudflare Stock Performance

Shares of NYSE NET opened at $272.64 on Monday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a 50 day moving average price of $278.40 and a 200 day moving average price of $234.20. The stock has a market capitalization of $96.37 billion, a PE ratio of -470.07, a price-to-earnings-growth ratio of 233.38 and a beta of 1.66. Cloudflare has a 52 week low of $158.83 and a 52 week high of $332.22.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $696.06 million for the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Analysts predict that Cloudflare will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 55,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $300.30, for a total value of $16,516,500.00. Following the transaction, the chief financial officer directly owned 113,790 shares of the company’s stock, valued at $34,171,137. This represents a 32.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total transaction of $9,723,673.89. Following the sale, the insider owned 69,775 shares of the company’s stock, valued at approximately $20,557,808.25. This represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 640,531 shares of company stock worth $168,474,753 over the last ninety days. Insiders own 10.66% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Cloudflare by 24,491.6% in the 2nd quarter. California State Teachers Retirement System now owns 114,562,194 shares of the company’s stock valued at $28,099,815,000 after buying an additional 114,096,335 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after buying an additional 241,981 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Cloudflare by 135.8% in the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock valued at $906,758,000 after acquiring an additional 2,530,872 shares during the period. First Trust Advisors LP boosted its position in shares of Cloudflare by 1.6% in the fourth quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock valued at $792,377,000 after acquiring an additional 63,198 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Cloudflare by 1.3% in the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after acquiring an additional 49,485 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.