Cloudflare (NYSE:NET) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Cloudflare (NYSE:NET) in a research report sent to investors on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $100.00 price objective on the stock.

Several other research analysts have also commented on the company. Morgan Stanley lifted their price target on Cloudflare from $66.00 to $92.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. Needham & Company LLC lifted their target price on Cloudflare from $110.00 to $135.00 and gave the company a buy rating in a research note on Friday, February 9th. JMP Securities lifted their target price on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. KeyCorp lifted their target price on Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research note on Friday, February 9th. Finally, Capital One Financial started coverage on Cloudflare in a research note on Wednesday, January 17th. They issued an equal weight rating and a $83.00 target price on the stock. 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 stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $87.08.

Cloudflare Stock Performance

Shares of NYSE NET opened at $88.05 on Wednesday. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The stock’s 50-day simple moving average is $96.93 and its 200-day simple moving average is $81.59. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) 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%. Equities research analysts forecast that Cloudflare will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other news, Director Carl Ledbetter sold 44,154 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $94.37, for a total value of $4,166,812.98. Following the sale, the director now directly owns 1,222,859 shares in the company, valued at $115,401,203.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Carl Ledbetter sold 44,154 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $94.37, for a total value of $4,166,812.98. Following the sale, the director now directly owns 1,222,859 shares in the company, valued at $115,401,203.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at $40,351,461.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,055,903 shares of company stock worth $102,487,506. 14.80% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the period. Capital World Investors lifted its position in Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after buying an additional 487,308 shares during the period. Moneta Group Investment Advisors LLC lifted its position in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after buying an additional 6,068,873 shares during the period. State Street Corp lifted its position in Cloudflare by 5.3% during the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after buying an additional 278,422 shares during the period. Finally, Geode Capital Management LLC lifted its position in Cloudflare by 4.0% during the first quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock worth $233,843,000 after buying an additional 146,503 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

About Cloudflare

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.