Cloudflare (NYSE:NET) Price Target Raised to $175.00 at Stifel Nicolaus

Cloudflare (NYSE:NET) had its target price boosted by Stifel Nicolaus from $136.00 to $175.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on NET. Guggenheim boosted their price objective on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Morgan Stanley raised their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Truist Financial boosted their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $128.48.

Cloudflare Stock Up 17.9 %

NYSE NET opened at $166.88 on Friday. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38. The firm has a market capitalization of $57.27 billion, a price-to-earnings ratio of -758.52 and a beta of 1.12. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $118.89 and a two-hundred day moving average of $97.11.

Cloudflare (NYSE:NET) last issued its quarterly 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%. On average, analysts predict that Cloudflare will post -0.04 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,738 shares of company stock valued at $69,632,506 in the last ninety days. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. lifted its position in Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after buying an additional 105 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Cloudflare by 0.5% in the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after buying an additional 106 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Cloudflare by 0.5% during the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after acquiring an additional 107 shares during the period. 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.