Market Analysts see Cloudflare Inc. [NET] gaining to $65. Time to buy?

Cloudflare Inc. [NYSE: NET] gained 13.17% or 6.02 points to close at $51.72 with a heavy trading volume of 8511358 shares. The company report on October 6, 2022 that Cloudflare Announces Date of Third Quarter 2022 Financial Results.


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Cloudflare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, today announced that it will report its financial results for the third quarter ended September 30, 2022 after the U.S. market closes on Thursday, November 3, 2022.

Cloudflare will host an investor conference call that day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss the results. Interested parties can access the call by dialing (877) 400-4517 from the United States or (332) 251-2620 internationally with conference ID 3723782.

It opened the trading session at $48.77, the shares rose to $52.88 and dropped to $48.24, the range by which the price of stock traded the whole day. The daily chart for NET points out that the company has recorded -52.18% loss over the past six months. However, it is still -32.75% lower than its most recent low trading price.

If we look at the average trading volume of 4.72M shares, NET reached to a volume of 8511358 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $93.19 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 2.30. 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.

Wells Fargo have made an estimate for Cloudflare Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 17, 2022. While these analysts kept the previous recommendation, MoffettNathanson raised their target price to Buy. The new note on the price target was released on September 22, 2022, representing the official price target for Cloudflare Inc. stock. Previously, the target price had yet another raise to $65, while Cantor Fitzgerald analysts kept a Neutral rating on NET stock.

The Average True Range (ATR) for Cloudflare Inc. is set at 4.43, with the Price to Sales ratio for NET stock in the period of the last 12 months amounting to 22.75. The Price to Book ratio for the last quarter was 28.89, with the Price to Cash per share for the same quarter was set at 4.59.

Trading performance analysis for NET stock

Cloudflare Inc. [NET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.64. With this latest performance, NET shares dropped by -12.22% in over the last four-week period, additionally sinking by -52.18% over the last 6 months – not to mention a drop of -69.16% 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 43.40, with the RSI for the last a single of trading hit 44.31, and the three-weeks RSI is set at 43.98 for Cloudflare Inc. [NET]. The present Moving Average for the last 50 days of trading for this stock 62.20, while it was recorded at 49.75 for the last single week of trading, and 77.28 for the last 200 days.

Cloudflare Inc. [NET]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Cloudflare Inc. [NET] shares currently have an operating margin of -22.58 and a Gross Margin at +77.59. Cloudflare Inc.’s Net Margin is presently recorded at -39.66.

Return on Equity for this stock declined to -31.97, with Return on Assets sitting at -13.87.

Cloudflare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.50.

An analysis of insider ownership at Cloudflare Inc. [NET]

There are presently around $12,209 million, or 87.20% of NET stock, in the hands of institutional investors. The top three institutional holders of NET stocks are: MORGAN STANLEY with ownership of 34,416,225, which is approximately 15.7% of the company’s market cap and around 0.10% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 24,114,608 shares of the stock with an approximate value of $1.25 billion in NET stocks shares; and VANGUARD GROUP INC, currently with $1.24 billion in NET stock with ownership of nearly 2.328% of the company’s market capitalization.

Positions in Cloudflare Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 272 institutional holders increased their position in Cloudflare Inc. [NYSE:NET] by around 27,638,886 shares. Additionally, 324 investors decreased positions by around 33,695,775 shares, while 94 investors held positions by with 174,721,572 shares. The mentioned changes placed institutional holdings at 236,056,233 shares, according to the latest SEC report filing. NET stock had 66 new institutional investments in for a total of 1,700,689 shares, while 150 institutional investors sold positions of 9,428,539 shares during the same period.

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