Cloudflare (NET) to Release Earnings on Thursday

Cloudflare (NYSE:NET) will be posting its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Cloudflare to post earnings of $0.13 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, analysts expect Cloudflare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Cloudflare Price Performance

Cloudflare stock opened at $87.68 on Thursday. The stock’s fifty day moving average price is $95.72 and its two-hundred day moving average price is $82.47. Cloudflare has a one year low of $39.90 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The firm has a market cap of $29.61 billion, a PE ratio of -159.42 and a beta of 1.12.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,031 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the transaction, the director now directly owns 1,454,919 shares of the company’s stock, valued at $117,717,496.29. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the transaction, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at $29,453,572.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 10,031 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total value of $811,608.21. Following the transaction, the director now directly owns 1,454,919 shares of the company’s stock, valued at $117,717,496.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,036,341 shares of company stock valued at $101,013,542. 14.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp lifted their price target on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Truist Financial lifted their price target on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Mizuho cut their price objective on Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Finally, Royal Bank of Canada raised their price objective on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.08.

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.