Cloudflare Inc (NYSE:NET) Given Consensus Rating of “Buy” by Analysts

Cloudflare Inc (NYSE:NET) has earned a consensus recommendation of “Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $20.96.

Several research firms have issued reports on NET. Piper Jaffray Companies began coverage on shares of Cloudflare in a report on Monday, November 4th. They set an “overweight” rating and a $20.00 price target for the company. SunTrust Banks began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set a “buy” rating and a $23.00 price target for the company. Evercore ISI began coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $22.00 price objective for the company. Goldman Sachs Group began coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, JMP Securities began coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $22.00 price objective for the company.

Cloudflare stock traded down $0.18 during mid-day trading on Thursday, hitting $18.90. 16,553 shares of the stock were exchanged, compared to its average volume of 841,981. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.02 and a current ratio of 9.02. Cloudflare has a 12 month low of $14.50 and a 12 month high of $22.08. The firm’s fifty day moving average price is $17.90.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.01). The business had revenue of $73.94 million for the quarter, compared to analysts’ expectations of $69.83 million. As a group, equities research analysts predict that Cloudflare will post -0.5 EPS for the current fiscal year.

Several large investors have recently modified their holdings of NET. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Cloudflare in the third quarter valued at about $60,419,000. Pelham Capital Ltd. purchased a new stake in shares of Cloudflare during the third quarter worth about $13,928,000. Zweig DiMenna Associates LLC purchased a new stake in shares of Cloudflare during the third quarter worth about $5,928,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Cloudflare during the fourth quarter worth about $2,249,000. Finally, Granahan Investment Management Inc. MA purchased a new stake in shares of Cloudflare during the third quarter worth about $2,321,000. 17.90% of the stock is currently owned by institutional investors.

About Cloudflare

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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Analyst Recommendations for Cloudflare (NYSE:NET)

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