Cloudflare Inc. (NET) Price Target: Is It Set To Rise Or Fall In Price?

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Cloudflare Inc. (NYSE:NET) finished Wednesday with an addition of $0.47 to close at $61.60, an upside of 0.77 percent. An average of 5,920,000 shares of common stock have been traded in the last five days. There was a gain of $0.18 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 4,295,965 shares traded, while the 50-day average volume stands at 4,903,008.

NET stock has decreased by -6.35% in the last month. The company shares reached their 1-month lowest point of $57.06 on 09/01/22. With the stock rallying to its 52-week high on 03/29/22, shares of the company touched a low of $38.96 and a high of $221.64 in 52 weeks. It has reached a new high 2 times so far this year and lost -53.16% or -$69.90 in price. In spite of this, the price is down -72.21% from the 52-week high.


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Insider Transactions

9 days have passed since Cloudflare Inc. (NET) last reported insider trading activity. Prince Matthew, who is CEO & Chair of the Board, most recently acquired $52,384 shares at $60.57 per share on Sep 13. In this transaction, the insider spent $3,172,673. CEO & Chair of the Board, Prince Matthew, disposed of 52,384 shares at a price of $65.93 on Sep 12. The insider now owns more than $3,453,695 worth of shares. Prior to that, CEO & Chair of the Board Prince Matthew went on to Sale 52,384 shares at $65.98 each on Sep 09. An amount of $3,456,358 was transacted.

Valuation Metrics

Cloudflare Inc. (NET) has a trailing price-to-sales (P/S) ratio at 25.68, the price-to-book (PB) ratio at 34.41.

Financial Health

The quick ratio of Cloudflare Inc. for the three months ended June 29 was 5.50, and the current ratio was 5.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.47 and a total debt to equity ratio of 2.47 for the quarter ending June 29. Its gross profit as reported stood at $509.29 million compared to revenue of $656.43 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cloudflare Inc.’s return on assets was -12.20%.

Earnings Surprise

For the three-month period that ended June 29, Cloudflare Inc. had $1.5 billion in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$63.54 million in the quarter, while revenues of -$41.38 million were grew 44.11%. The analyst consensus anticipated Cloudflare Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be $0. For the quarter, EBITDA amounted to -$27.48 million. Shareholders own equity worth $327.46 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Cloudflare Inc. (NET) price momentum. RSI 9-day as of the close on 21 September was 47.67%, suggesting the stock is Neutral, with historical volatility in this time frame at 76.20%.

As of today, NET’s price is $60.76 +0.29% or $0.18 from its 5-day moving average. NET is currently trading -5.61% lower than its 20-day SMA and -35.33% lower than its 100-day SMA. However, the stock’s current price level is +30.04% above the SMA50 and -61.43% below the SMA200.

The stochastic %K and %D were 42.25% and 35.67%, respectively, and the average true range (ATR) was 3.76. With the 14-day stochastic at 45.13% and the average true range at 3.90, the RSI (14) stands at 48.25%. The stock has reached -0.67 on the 9-day MACD Oscillator while the 14-day reading was at 0.02.

Analyst Ratings

Cantor Fitzgerald launched coverage on Cloudflare Inc. (NYSE: NET) in its analyst report released on September 08, 2022. The firm assigned the stock a Neutral rating.

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