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Exane BNP Paribas gives an Underperform recommendation for Cloudflare Inc (NET)

Cloudflare Inc’s recently made public that its CEO & Chair of the Board Prince Matthew unloaded Company’s shares for reported $5.01 million on Nov 13 ’24. In the deal valued at $95.59 per share,52,384 shares were sold. As a result of this transaction, Prince Matthew now holds 0 shares worth roughly $0.0.

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Then, Prince Matthew sold 52,384 shares, generating $4,835,608 in total proceeds. Upon selling the shares at $92.31, the CEO & Chair of the Board now owns 0 shares.

Before that, Prince Matthew sold 52,384 shares. Cloudflare Inc shares valued at $4,665,521 were divested by the CEO & Chair of the Board at a price of $89.06 per share. As a result of the transaction, Prince Matthew now holds 0 shares, worth roughly $0.0.

Exane BNP Paribas initiated its Cloudflare Inc [NET] rating to an Underperform in a research note published on October 08, 2024; the price target was $65. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid July with a ‘”a Peer perform”‘ rating. Scotiabank began covering NET with “Sector perform” recommendation on July 08, 2024. UBS revised its rating on June 25, 2024. It rated NET as “a Neutral” which previously was an “a Sell”.

Price Performance Review of NET

On Friday, Cloudflare Inc [NYSE:NET] saw its stock fall -2.35% to $89.77. Over the last five days, the stock has lost -1.62%. Cloudflare Inc shares have risen nearly 7.82% since the year began. Nevertheless, the stocks have risen 26.78% over the past one year. While a 52-week high of $116.00 was reached on 02/09/24, a 52-week low of $66.24 was recorded on 06/03/24. SMA at 50 days reached $86.11, while 200 days put it at $85.01.

Levels Of Support And Resistance For NET Stock

The 24-hour chart illustrates a support level at 87.98, which if violated will result in even more drops to 86.20. On the upside, there is a resistance level at 91.34. A further resistance level may holdings at 92.92. The Relative Strength Index (RSI) on the 14-day chart is 50.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.36, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 69.27%. Stochastics %K at 46.82% indicates the stock is a holding.

How much short interest is there in Cloudflare Inc?

A steep rise in short interest was recorded in Cloudflare Inc stocks on 2024-10-31, dropping by 42661.0 shares to a total of 10.14 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 10.18 million shares. There was a decline of -0.42%, which implies that there is a negative sentiment for the stock.

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