Cloudflare (NYSE:NET) Stock Rating Upgraded by Stifel Nicolaus

Cloudflare (NYSE:NET) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $136.00 target price on the stock, up from their previous target price of $95.00. Stifel Nicolaus’ price target suggests a potential upside of 18.62% from the stock’s current price.

A number of other equities research analysts have also commented on NET. Wells Fargo & Company upped their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $96.77.

Cloudflare Trading Up 0.9 %

Shares of NYSE:NET opened at $114.65 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $39.35 billion, a P/E ratio of -440.96 and a beta of 1.10. The business’s 50-day moving average is $96.78 and its 200 day moving average is $85.43. Cloudflare has a 1 year low of $66.24 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, research analysts predict that Cloudflare will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $19,572,040.44. This trade represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,824 shares of company stock worth $49,037,888 over the last quarter. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after acquiring an additional 752 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Cloudflare in the 2nd quarter valued at approximately $320,000. Private Advisory Group LLC raised its holdings in Cloudflare by 18.7% during the second quarter. Private Advisory Group LLC now owns 32,680 shares of the company’s stock worth $2,707,000 after purchasing an additional 5,137 shares during the last quarter. Advisory Resource Group boosted its position in Cloudflare by 57.6% during the second quarter. Advisory Resource Group now owns 12,416 shares of the company’s stock worth $1,028,000 after purchasing an additional 4,536 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.