The stock of Cloudflare Inc (NYSE:NET) last traded at $55.53, down -1.70% from the previous session.
Data from the available sources indicates that Cloudflare Inc (NYSE:NET) is covered by 30 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $90.00 and a low of $43.00, we find $73.30. Given the previous closing price of $56.49, this indicates a potential upside of 29.76 percent. NET stock price is now -9.94% away from the 50-day moving average and -7.65% away from the 200-day moving average. The market capitalization of the company currently stands at $18.56B.
In total, 12 analysts have assigned it a hold rating, and 11 have given it a buy rating. Brokers who have rated the stock have averaged $68.84 as their price target over the next twelve months.
With the price target of $52, BofA Securities recently initiated with Underperform rating for Cloudflare Inc (NYSE: NET).
In other news, Ledbetter Carl, Director sold 19,057 shares of the company’s stock on Oct 25. The stock was sold for $1,106,056 at an average price of $58.04. Upon completion of the transaction, the Director now directly owns 1,725,423 shares in the company, valued at $95.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 18, Chief Financial Officer SEIFERT THOMAS J sold 15,000 shares of the business’s stock. A total of $945,432 was realized by selling the stock at an average price of $63.03. This leaves the insider owning 253,352 shares of the company worth $14.07 million. Insiders disposed of 273,434 shares of company stock worth roughly $15.18 million over the past 1 year. A total of 13.59% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NET stock. A new stake in Cloudflare Inc shares was purchased by UNISUPER MANAGEMENT PTY LTD during the first quarter worth $13,718,000. CLEAR STREET LLC invested $12,938,000 in shares of NET during the first quarter. In the first quarter, QUADRATURE CAPITAL LTD acquired a new stake in Cloudflare Inc valued at approximately $7,933,000. TWINBEECH CAPITAL LP acquired a new stake in NET for approximately $7,355,000. FRED ALGER MANAGEMENT, LLC purchased a new stake in NET valued at around $5,789,000 in the second quarter. In total, there are 856 active investors with 74.86% ownership of the company’s stock.
With an opening price of $56.55 on Thursday morning, Cloudflare Inc (NYSE: NET) set off the trading day. During the past 12 months, Cloudflare Inc has had a low of $37.37 and a high of $76.07. As of last week, the company has a debt-to-equity ratio of 2.27, a current ratio of 3.84, and a quick ratio of 3.84. The fifty day moving average price for NET is $61.55 and a two-hundred day moving average price translates $60.20 for the stock.
The latest earnings results from Cloudflare Inc (NYSE: NET) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.1, beating analysts’ expectations of $0.07 by 0.03. This compares to -$0.20 EPS in the same period last year. The net profit margin was -19.61% and return on equity was -36.16% for NET. The company reported revenue of $308.49 million for the quarter, compared to $234.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.54 percent. For the current quarter, analysts expect NET to generate $330.53M in revenue.
Cloudflare Inc(NET) 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, secure origin connection, and rate limiting products. It also offers website and application performance solutions, including content delivery, load balancing, DNS, agro smart routing, video stream delivery, content optimization, virtual backbone, always online, and cloudflare waiting room and registrar; and network services, which deliver network connectivity, security, and performance to customers as a service, including WAN, WARP, magic transit, magic firewall, cloudflare network interconnect, and spectrum. In addition, the company provides zero trust services, such as cloudflare access, cloudflare gateway, remote browser isolation, cloud access security broker, cloudflare area 1 email security, and data loss prevention products that protect, inspect, and privilege data. Further, it provides developer-based solutions consisting of cloudflare workers, pages, stream, and images, as well as Cloudflare Data Localization suite, a tool that set rules and controls at the network edge; durable objects and R2 object storage products; Consumer DNS Resolver, a consumer app to browse the Internet; and consumer VPN for consumers to secure and accelerate traffic on mobile devices. The company serves customers in the technology, healthcare, financial services, consumer and retail, and non-profit industries, as well as government. CloudFlare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
