Stocks of Cloudflare Inc (NYSE:NET) traded higher last session on Wall Street, up 3.11% to $99.07.
NET stock price is now 7.71% away from the 50-day moving average and 34.59% away from the 200-day moving average. The market capitalization of the company currently stands at $33.45B.
With the price target maintained at $110, DZ Bank recently Downgraded its rating from Buy to Hold for Cloudflare Inc (NYSE: NET). , while ‘Bernstein’ rates the stock as ‘Mkt Perform’
In other news, Ledbetter Carl, Director sold 7,968 shares of the company’s stock on Mar 20 ’24. The stock was sold for $757,605 at an average price of $95.08. Upon completion of the transaction, the Director now directly owns 1,284,997 shares in the company, valued at $127.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15 ’24, Chief Financial Officer SEIFERT THOMAS J sold 95,000 shares of the business’s stock. A total of $8,718,453 was realized by selling the stock at an average price of $91.77. A total of 13.40% of the company’s stock is owned by insiders.
During the past 12 months, Cloudflare Inc has had a low of $39.90 and a high of $116.00. As of last week, the company has a debt-to-equity ratio of 1.88, a current ratio of 3.50, and a quick ratio of 3.50. The fifty day moving average price for NET is $92.38 and a two-hundred day moving average price translates $73.79 for the stock.
The latest earnings results from Cloudflare Inc (NYSE: NET) was released for Dec, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.15, beating analysts’ expectations of $0.12 by 0.03. This compares to -$0.14 EPS in the same period last year. The net profit margin was -14.19% and return on equity was -26.52% for NET. The company reported revenue of $362.47 million for the quarter, compared to $274.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.95 percent. For the current quarter, analysts expect NET to generate $373.08M 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, script management, security center, and rate limiting products. It offers website and application performance solutions, including content delivery, load balancing, DNS, agro smart routing, video stream delivery, web optimization, cache reserve, cloudfare waiting room, and cloudfare data localization suite; SASE platform through cloudfare one that provides a cloud-based network-as-a-service; network services which deliver network connectivity, security, and performance, including magic WAN, 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, cloud email security, and data loss prevention products that protects, inspects, and provides privilege rules to grant access to data and application. Further, it provides developer-based solutions consisting of cloudflare workers, R2 object storage, workers KV, durable objects, cloudfare pages, cloudfare stream, and cloudfare images; and consumer products comprising of 1.1.1.1, a DNS resolver, WARP, a virtual private network, and cloudfare registrar that secures registration and management of domain names. The company serves customers in the technology, healthcare, financial services, consumer and retail, industrial, and non-profit industries, as well as government. Cloudflare, Inc. was incorporated in 2009 and is headquartered in San Francisco, California.
