Cloudflare Inc (NYSE:NET) shares traded 6.80% higher at $79.46 on Wall Street last session.
NET stock price is now 2.63% away from the 50-day moving average and -2.21% away from the 200-day moving average. The market capitalization of the company currently stands at $26.96B.
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On July 08, 2024, Scotiabank recently initiated its ‘Sector Perform’ rating on the stock quoting a target price of $85, while ‘UBS’ rates the stock as ‘Neutral’
In other news, THOMAS J SEIFERT, Officer bought 15,000 shares of the company’s stock on Aug 02 ’24. The stock was bought for $1,116,000 at an average price of $74.40. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 01 ’24, Director MARIA EITEL bought 6,875 shares of the business’s stock. A total of $534,016 was incurred on buying the stock at an average price of $77.68. A total of 12.83% of the company’s stock is owned by insiders.
During the past 12 months, Cloudflare Inc has had a low of $53.88 and a high of $116.00. As of last week, the company has a debt-to-equity ratio of 1.63, a current ratio of 3.51, and a quick ratio of 3.51. The fifty day moving average price for NET is $77.5234 and a two-hundred day moving average price translates $81.3326 for the stock.
The latest earnings results from Cloudflare Inc (NYSE: NET) was released for 2024-06-30. The net profit margin was -6.90% and return on equity was -13.39% for NET. The company reported revenue of $401.0 million for the quarter, compared to $308.49 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.99 percent.
