Cloudflare Inc (NYSE:NET) finished Friday with a subtraction of -$0.05 to close at $63.04, a downside of -0.08 percent. An average of 4,650,820 shares of common stock have been traded in the last five days. There was a gain of $5.28 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 3,489,830 shares traded, while the 50-day average volume stands at 3,588,488.
NET stock has decreased by -2.13% in the last month. The company shares reached their 1-month lowest point of $56.08 on 09/21/23. With the stock rallying to its 52-week high on 07/19/23, shares of the company touched a low of $37.37 and a high of $76.07 in 52 weeks. It has reached a new high 11 times so far this year and achieved 39.44% or $17.83 in price. In spite of this, the price is down -17.13% from the 52-week high.
Insider Transactions
NET stock investors should be aware that Cloudflare Inc (NET) stock had its last reported insider trading activity 2 days ago on Sep 28. In this transaction, the insider spent $646,887. Director, Ledbetter Carl, disposed of 19,540 shares at a price of $59.88 on Sep 27. The insider now owns more than $1,169,978 worth of shares. Prior to that, President and COO Zatlyn Michelle went on to Sale 12,820 shares at $58.28 each on Sep 21. An amount of $747,159 was transacted.
Valuation Metrics
Cloudflare Inc (NET) stock’s beta is 0.95. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 18.69, the price-to-book (PB) ratio at 32.77, and the price-to-cash flow ratio at 228.42.
Financial Health
The quick ratio of Cloudflare Inc for the three months ended June 29 was 3.84, and the current ratio was 3.84, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.16 and a total debt to equity ratio of 2.27 for the quarter ending June 29. Its gross profit as reported stood at $742.63 million compared to revenue of $975.24 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$94.47 million in the quarter, while revenues were grew 32.74%. The analyst consensus anticipated Cloudflare Inc’s latest quarter earnings to come in at $0.07 per share, but it turned out to be $0.1, a 42.90% surprise. For the quarter, EBITDA amounted to -$6.29 million. Shareholders own equity worth $334.22 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 29 September was 57.65%, suggesting the stock is Neutral, with historical volatility in this time frame at 60.36%.
As of today, NET’s price is $60.22 +9.14% or $5.28 from its 5-day moving average. NET is currently trading -3.06% lower than its 20-day SMA and +36.13% higher than its 100-day SMA. However, the stock’s current price level is -6.29% below the SMA50 and +23.80% above the SMA200.
The stochastic %K and %D were 62.23% and 41.90%, respectively, and the average true range (ATR) was 2.77. With the 14-day stochastic at 70.51% and the average true range at 2.80, the RSI (14) stands at 53.20%. The stock has reached 2.71 on the 9-day MACD Oscillator while the 14-day reading was at 1.16.
Analyst Ratings
BofA Securities launched coverage on Cloudflare Inc (NYSE: NET) in its analyst report released on September 07, 2023. The firm assigned the stock an Underperform rating. The consensus rating for Cloudflare Inc (NET) among analysts is Overweight. According to current brokerage recommendations, 3 brokerage firms advise that investors sell NET, while 13 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 10 others rate it as a “buy”.
What is NET’s price target for the next 12 months?
Analysts predict a range of price targets between $43.00 and $90.00, with a median target of $74.00. Taking a look at these predictions, the average price target given by analysts for Cloudflare Inc (NET) stock is $68.84.
