Cloudflare Inc. [NYSE: NET] slipped around -11.2 points on Tuesday, while shares priced at $114.96 at the close of the session, down -8.88%. The company report on December 17, 2021 that Cloudflare Publishes Its First Annual Impact Report.
Report covers a year of new offerings, partnerships, and commitments to help build a more sustainable Internet.
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Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today published its first annual Impact Report showcasing its commitment to helping build a better Internet that is principled, accessible for everyone, and sustainable. In 2021, Cloudflare began publicly reporting information about its environment, social and governance (ESG) impacts. The company focused on crafting a blueprint for a zero-emissions Internet, improving efficiencies of its global network that already runs on 100 percent renewable energy, and launching new tools to help other businesses build sustainability into their applications. Further, the report documents the company’s initiatives to be a force for good by protecting vulnerable groups from cyberattack, providing free Internet connection services to underserved communities, and helping vaccine distributors meet the high demand for appointments worldwide.
Cloudflare Inc. stock is now -12.58% down from its year-to-date (YTD) trading value. NET Stock saw the intraday high of $125.97 and lowest of $108.58 per share. The company’s 52-week high price is 221.64, which means current price is +5.88% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 4.21M shares, NET reached a trading volume of 9770588 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cloudflare Inc. [NET]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NET shares is $205.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NET stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Cloudflare Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 14, 2021. While these analysts kept the previous recommendation, DZ Bank raised their target price to Buy. The new note on the price target was released on December 09, 2021, representing the official price target for Cloudflare Inc. stock. Previously, the target price had yet another raise to $205, while Credit Suisse analysts kept a Neutral rating on NET stock. On October 27, 2021, analysts increased their price target for NET shares from 135 to 195.
The Average True Range (ATR) for Cloudflare Inc. is set at 11.26, with the Price to Sales ratio for NET stock in the period of the last 12 months amounting to 63.63. The Price to Book ratio for the last quarter was 42.42, with the Price to Cash per share for the same quarter was set at 5.57.
How has NET stock performed recently?
Cloudflare Inc. [NET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.52. With this latest performance, NET shares dropped by -28.01% in over the last four-week period, additionally plugging by 6.10% over the last 6 months – not to mention a rise of 52.99% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NET stock in for the last two-week period is set at 29.80, with the RSI for the last a single of trading hit 24.07, and the three-weeks RSI is set at 34.04 for Cloudflare Inc. [NET]. The present Moving Average for the last 50 days of trading for this stock 170.38, while it was recorded at 127.82 for the last single week of trading, and 121.51 for the last 200 days.
Cloudflare Inc. [NET]: Deeper insight into the fundamentals
Cloudflare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.50 and a Current Ratio set at 8.50.
Insider trade positions for Cloudflare Inc. [NET]
There are presently around $27,775 million, or 85.60% of NET stock, in the hands of institutional investors. The top three institutional holders of NET stocks are: FMR LLC with ownership of 31,002,733, which is approximately 1.996% of the company’s market cap and around 0.10% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 29,734,942 shares of the stock with an approximate value of $3.75 billion in NET stocks shares; and MORGAN STANLEY, currently with $3.52 billion in NET stock with ownership of nearly -2.851% of the company’s market capitalization.
343 institutional holders increased their position in Cloudflare Inc. [NYSE:NET] by around 22,145,637 shares. Additionally, 211 investors decreased positions by around 18,425,544 shares, while 93 investors held positions by with 179,585,709 shares. The mentioned changes placed institutional holdings at 220,156,890 shares, according to the latest SEC report filing. NET stock had 124 new institutional investments in for a total of 4,201,307 shares, while 40 institutional investors sold positions of 699,149 shares during the same period.