In a report issued on August 18, Jonathan Ruykhaver from Robert W. Baird maintained a Buy rating on Cloudflare (NET). The company’s shares closed last Thursday at $39.73.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 22.9% and a 67.9% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.
Cloudflare has an analyst consensus of Strong Buy, with a price target consensus of $48.25, implying a 21.4% upside from current levels. In a report issued on August 4, RBC Capital also maintained a Buy rating on the stock with a $48.00 price target.
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Based on Cloudflare’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $99.72 million and GAAP net loss of $26.14 million. In comparison, last year the company earned revenue of $67.42 million and had a GAAP net loss of $19.71 million.
Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NET in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cloudflare, Inc. engages in the provision of cloud-based services to secure websites. It offers various products for performance and reliability, video streaming and delivery, advanced security, insights, cloudflare for developers, domain registration, and cloudflare marketplace. The company was founded by Matthew Prince, Michelle Zatlyn, and Lee Holloway in 2009 and is headquartered in San Francisco, CA.
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