Cloudflare (NYSE:NET) Now Covered by Morgan Stanley

Equities researchers at Morgan Stanley began coverage on shares of Cloudflare (NYSE:NET) in a note issued to investors on Tuesday. The firm set an “overweight” rating on the stock.

A number of other analysts have also issued reports on NET. UBS Group decreased their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research note on Tuesday, February 11th. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $130.04.

Cloudflare Trading Down 2.1 %

Shares of Cloudflare stock traded down $2.48 on Tuesday, hitting $113.54. 143,376 shares of the company’s stock traded hands, compared to its average volume of 3,006,727. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a one year low of $66.24 and a one year high of $177.37. The company has a fifty day moving average of $136.48 and a two-hundred day moving average of $108.95. The company has a market capitalization of $39.18 billion, a price-to-earnings ratio of -510.87 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts expect that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 571,766 shares of company stock valued at $73,804,307 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NET. Quarry LP boosted its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare in the fourth quarter worth approximately $43,000. Quest Partners LLC purchased a new stake in Cloudflare in the third quarter valued at $54,000. Park Square Financial Group LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth about $56,000. Finally, Larson Financial Group LLC raised its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the period. 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.