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

Cloudflare (NYSE:NET) had its price target lifted by UBS Group from $130.00 to $165.00 in a research note published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a 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. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Mizuho upped their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald initiated coverage on Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Trading Up 17.9 %

NYSE:NET opened at $166.88 on Friday. 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 52 week low of $66.24 and a 52 week high of $171.38. The stock’s fifty day moving average is $117.55 and its two-hundred day moving average is $96.24.

Cloudflare (NYSE:NET) last released its quarterly 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 5.52% and a negative net margin of 4.72%. On average, equities research analysts predict that Cloudflare will post -0.04 EPS for the current year.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 633,738 shares of company stock worth $69,632,506. Corporate insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the company. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. raised its position in shares of Cloudflare by 2.7% in the third 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 period. National Pension Service lifted its position in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC acquired a new position in Cloudflare in the 4th quarter valued at $265,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.