Robert W. Baird Reiterates Neutral Rating for Cloudflare (NYSE:NET)

Robert W. Baird reissued their neutral rating on shares of Cloudflare (NYSE:NET) in a report released on Monday, Marketbeat reports. Robert W. Baird currently has a $140.00 target price on the stock, up from their prior target price of $125.00.

Several other research firms have also recently commented on NET. Wells Fargo & Company raised their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Needham & Company LLC boosted their target price on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and increased their price target for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Mizuho upped their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and an average price target of $112.32.

Cloudflare Price Performance

Shares of NYSE:NET opened at $144.14 on Monday. The firm’s 50 day moving average is $116.71 and its two-hundred day moving average is $95.92. The firm has a market capitalization of $49.47 billion, a P/E ratio of -554.38 and a beta of 1.12. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 52 week low of $66.24 and a 52 week high of $144.30.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Analysts anticipate that Cloudflare will post -0.1 earnings per share for the current year.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, 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 sold a total of 633,738 shares of company stock worth $69,632,506 in the last three months. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

Several large investors have recently made changes to their positions in the stock. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare in the third quarter worth $25,588,000. International Assets Investment Management LLC bought a new position in Cloudflare in the third quarter worth $147,160,000. Parnassus Investments LLC boosted its position in shares of Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Finally, Generate Investment Management Ltd bought a new stake in Cloudflare in the fourth quarter valued at $12,946,000. Institutional investors own 82.68% of the company’s stock.

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.