Cloudflare (NYSE:NET) Stock Price Expected to Rise, Susquehanna Analyst Says

Cloudflare (NYSE:NET) had its price target upped by Susquehanna from $95.00 to $170.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price target indicates a potential downside of 3.13% from the stock’s previous close.

Several other equities research analysts have also issued reports on NET. Scotiabank lifted their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Truist Financial upped their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Mizuho increased their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.88.

Cloudflare Stock Performance

NYSE NET traded up $8.83 on Monday, hitting $175.49. 3,115,428 shares of the stock traded hands, compared to its average volume of 3,757,570. The firm has a market capitalization of $60.23 billion, a price-to-earnings ratio of -795.40 and a beta of 1.12. The business’s fifty day moving average is $118.89 and its two-hundred day moving average is $97.11. 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 has a 12 month low of $66.24 and a 12 month high of $176.54.

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

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was 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 worth $69,632,506 over the last three months. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartline Investment Corp boosted its holdings in Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after acquiring an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the 3rd quarter worth about $25,588,000. Charles Schwab Investment Management Inc. grew its position in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares during the last quarter. National Pension Service increased its stake in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC purchased a new position in Cloudflare in the fourth quarter worth about $265,000. Institutional investors 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.