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

Cloudflare (NYSE:NET) had its target price lifted by equities research analysts at UBS Group from $135.00 to $145.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 9.50% from the company’s previous close.

Several other equities research analysts have also recently commented on NET. Morgan Stanley raised their target price on Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday. Guggenheim raised their price objective on shares of Cloudflare from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Friday. Jefferies Financial Group dropped their target price on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating on the stock in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, Stifel Nicolaus upped their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $142.57.

Cloudflare Stock Up 6.5 %

Cloudflare stock opened at $132.42 on Friday. The firm has a 50 day moving average price of $116.02 and a two-hundred day moving average price of $117.76. 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 $177.37. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of -601.91 and a beta of 1.78.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the previous year, the firm earned $0.16 EPS. Cloudflare’s quarterly revenue was up 26.5% on a year-over-year basis. Equities analysts predict that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $107.29, for a total value of $2,750,915.60. Following the transaction, the insider now owns 413,413 shares of the company’s stock, valued at approximately $44,355,080.77. The trade was a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76. Following the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $59,279,290.07. This represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,492 shares of company stock worth $63,757,685. Insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently added to or reduced their stakes in the stock. Groupama Asset Managment purchased a new position in Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank purchased a new position in Cloudflare in the fourth quarter valued at approximately $249,544,000. American Century Companies Inc. increased its position in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock valued at $100,604,000 after buying an additional 836,591 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Cloudflare by 292.5% during the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock valued at $116,178,000 after buying an additional 804,059 shares during the last quarter. Institutional investors 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.