Cloudflare (NYSE:NET) Price Target Raised to $149.00

Cloudflare (NYSE:NET) had its target price raised by Cantor Fitzgerald from $111.00 to $149.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and lifted their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Piper Sandler boosted their target price on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC raised their price target on shares of Cloudflare from $110.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and increased their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $128.48.

Cloudflare Trading Up 17.9 %

Shares of NYSE NET opened at $166.88 on Friday. The stock’s fifty day moving average is $117.55 and its 200 day moving average is $96.24. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 over the last quarter. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several large investors have recently modified their holdings of NET. Sequoia Financial Advisors LLC boosted its stake in Cloudflare by 30.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the company’s stock worth $393,000 after acquiring an additional 850 shares in the last quarter. Miller Financial Services LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at about $445,000. Clare Market Investments LLC bought a new position in shares of Cloudflare during the 4th quarter worth about $702,000. Independent Advisor Alliance grew its stake in shares of Cloudflare by 0.5% in the 4th quarter. Independent Advisor Alliance now owns 28,292 shares of the company’s stock valued at $3,046,000 after buying an additional 130 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Cloudflare by 3.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,552 shares of the company’s stock valued at $2,536,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.