Cloudflare (NYSE:NET) Price Target Raised to $170.00

Cloudflare (NYSE:NET) had its target price boosted by Susquehanna from $95.00 to $170.00 in a report issued on Monday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

NET has been the topic of a number of other research reports. Stifel Nicolaus boosted their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley boosted their target price on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Guggenheim boosted their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, JMP Securities upped their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $135.28.

Cloudflare Stock Up 0.1 %

NET stock opened at $172.78 on Monday. The firm has a market cap of $59.30 billion, a PE ratio of -785.36 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. The firm’s 50 day moving average price is $122.83 and its 200-day moving average price is $98.96. Cloudflare has a one year low of $66.24 and a one year high of $176.73.

Cloudflare (NYSE:NET) last announced its earnings results 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts anticipate that Cloudflare will post -0.04 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly 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 581,354 shares of company stock worth $64,625,120 over the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently made changes to their positions in NET. Groupama Asset Managment purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $249,544,000. American Century Companies Inc. raised its holdings in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Cloudflare by 454.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 879,088 shares of the company’s stock valued at $94,660,000 after buying an additional 720,568 shares during the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Cloudflare in the third quarter valued at about $25,588,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.