Cloudflare (NYSE:NET) Given New $165.00 Price Target at UBS Group

Cloudflare (NYSE:NET) had its price objective lifted by stock analysts at UBS Group from $130.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential downside of 0.17% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada increased their price target on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup raised 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research note on Monday. Cantor Fitzgerald began coverage on shares of Cloudflare in a research report on Friday, January 17th. They set a “neutral” rating and a $111.00 target price on the stock. Finally, Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $119.56.

Cloudflare Price Performance

Shares of Cloudflare stock traded up $23.77 during trading on Friday, reaching $165.29. 5,377,988 shares of the company’s stock were exchanged, compared to its average volume of 3,382,584. The firm’s 50-day moving average price is $116.71 and its 200 day moving average price is $95.92. The company has a market cap of $56.73 billion, a P/E ratio of -634.87 and a beta of 1.12. 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 1-year low of $66.24 and a 1-year high of $165.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts anticipate that Cloudflare will post -0.1 earnings per share for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their position. The transaction 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 Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 633,738 shares of company stock worth $69,632,506. 12.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare in the 3rd quarter valued at about $25,588,000. International Assets Investment Management LLC purchased a new position in Cloudflare in the 3rd quarter worth approximately $147,160,000. Parnassus Investments LLC lifted its position in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after purchasing an additional 131,319 shares during the last quarter. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares during the period. Finally, Generate Investment Management Ltd bought a new stake in shares of Cloudflare in the fourth quarter worth about $12,946,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

About Cloudflare

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.