Cloudflare Inc. (NYSE: NET) is -4.78% lower on its value in year-to-date trading and has touched a low of $21.18 and a high of $95.77 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NET stock was last observed hovering at around $70.05 in the last trading session, with the day’s gains setting it 2.31% off its average median price target of $102.00 for the next 12 months. It is also 34.22% off the consensus price target high of $110.00 offered by 14 analysts, but current levels are 17.77% higher than the price target low of $88.00 for the same period.
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Currently trading at $72.36, the stock is 1.66% and -4.70% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.33 million and changing 3.30% at the moment leaves the stock 21.79% off its SMA200. NET registered 217.37% gain for a year compared to 6-month gain of 71.35%. The firm has a 50-day simple moving average (SMA 50) of $72.97 and a 200-day simple moving average (SMA200) of $69.09.
The stock witnessed a 4.22% loss in the last 1 month and extending the period to 3 months gives it a -1.24%, and is 2.99% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.93% over the week and 5.13% over the month.
Cloudflare Inc. (NET) has around 1788 employees, a market worth around $21.87B and $431.10M in sales. Fwd P/E is 9045.00. Profit margin for the company is -27.70%. Distance from 52-week low is 241.64% and -24.44% from its 52-week high. The company has generated returns on investments over the last 12 months (-8.40%).
Cloudflare Inc. (NET) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cloudflare Inc. (NET) is a “Overweight”. 14 analysts offering their recommendations for the stock have an average rating of 1.80, where 3 rate it as a Hold and 1 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Cloudflare Inc. is expected to release its quarterly report on 08/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $131.03M over the same period.The EPS is expected to grow by 44.90% this year, but quarterly earnings will post 37.50% year-over-year.
Cloudflare Inc. (NET) Top Institutional Holders
669 institutions hold shares in Cloudflare Inc. (NET), with 19.09M shares held by insiders accounting for 6.18% while institutional investors hold 82.25% of the company’s shares. The shares outstanding are 303.21M, and float is at 94.85M with Short Float at 13.28%. Institutions hold 77.17% of the Float.
The top institutional shareholder in the company is FMR, LLC with over 30.29 million shares valued at $2.3 billion. The investor’s holdings represent 12.10% of the NET Shares outstanding. As of Dec 30, 2020, the second largest holder is Baillie Gifford and Company with 29.86 million shares valued at $2.27 billion to account for 11.93% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 17.22 million shares representing 6.88% and valued at over $1.31 billion, while Venrock Management V, LLC holds 5.33% of the shares totaling 13.35 million with a market value of $1.01 billion.
Cloudflare Inc. (NET) Insider Activity
A total of 64 insider transactions have happened at Cloudflare Inc. (NET) in the last six months, with sales accounting for 49 and purchases happening 15 times. The most recent transaction is an insider sale by Prince Matthew ,the company’sCEO & Chair of the Board. SEC filings show that Prince Matthew sold 52,384 shares of the company’s common stock on Mar 24 at a price of $70.18 per share for a total of $3.68 million. Following the sale, the insider now owns 0.0 shares.
Cloudflare Inc. disclosed in a document filed with the SEC on Mar 23 that Prince Matthew (CEO & Chair of the Board) sold a total of 52,384 shares of the company’s common stock. The trade occurred on Mar 23 and was made at $72.82 per share for $3.81 million. Following the transaction, the insider now directly holds 0.0 shares of the NET stock.
Still, SEC filings show that on Mar 22, Prince Matthew (CEO & Chair of the Board) disposed off 52,384 shares at an average price of $72.63 for $3.8 million. The insider now directly holds 0 shares of Cloudflare Inc. (NET).