Cloudflare (NYSE:NET) Lifted to Buy at DZ Bank

DZ Bank upgraded shares of Cloudflare (NYSE:NETFree Report) from a hold rating to a buy rating in a research note released on Tuesday, MarketBeat reports. The firm currently has $95.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, May 3rd. TD Cowen cut their price target 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. Wells Fargo & Company lowered their target price on Cloudflare from $125.00 to $105.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Mizuho lowered their target price on Cloudflare from $95.00 to $88.00 and set a neutral rating for the company in a research note on Friday, May 3rd. Finally, UBS Group decreased their price target on shares of Cloudflare from $88.00 to $76.00 and set a sell rating for the company in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $90.57.

View Our Latest Stock Analysis on Cloudflare

Cloudflare Trading Down 2.0 %

Cloudflare stock traded down $1.44 during trading hours on Tuesday, reaching $71.90. 2,944,605 shares of the company’s stock traded hands, compared to its average volume of 3,922,093. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare has a fifty-two week low of $48.19 and a fifty-two week high of $116.00. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of -135.66 and a beta of 1.15. The firm’s 50 day moving average is $91.12 and its 200-day moving average is $83.87.

Cloudflare (NYSE:NETGet Free Report) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, analysts predict that Cloudflare will post -0.19 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 44,220 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $100.16, for a total transaction of $4,429,075.20. Following the completion of the sale, the director now owns 1,363,066 shares of the company’s stock, valued at approximately $136,524,690.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Carl Ledbetter sold 44,220 shares of Cloudflare stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $100.16, for a total transaction of $4,429,075.20. Following the completion of the sale, the director now owns 1,363,066 shares of the company’s stock, valued at $136,524,690.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michelle Zatlyn sold 277,376 shares of Cloudflare stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the sale, the chief operating officer now directly owns 38,545 shares of the company’s stock, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Insiders sold 1,115,298 shares of company stock valued at $104,795,772 in the last quarter. 12.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 595.0% in the first 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 period. ICA Group Wealth Management LLC bought a new position in shares of Cloudflare in the fourth quarter worth $38,000. GAMMA Investing LLC bought a new position in shares of Cloudflare in the fourth quarter worth $39,000. Finally, Pingora Partners LLC bought a new position in shares of Cloudflare in the fourth quarter worth $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

(Get Free Report)

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.

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