Cloudflare (NYSE:NET) Stock Price Target Raised at Wells Fargo & Company

Cloudflare (NYSE:NET) had its price objective increased by analysts at Wells Fargo & Company from $380.00 to $400.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 22.54% from the company’s current price.

A number of other brokerages have also commented on NET. Oppenheimer upped their target price on Cloudflare from $380.00 to $430.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. KeyCorp raised their price target on shares of Cloudflare from $300.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Mizuho lifted their price objective on shares of Cloudflare from $260.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Citizens Jmp restated a “market outperform” rating and set a $394.00 price objective on shares of Cloudflare in a research note on Monday, August 31st. Finally, BTIG Research upped their price objective on shares of Cloudflare from $382.00 to $413.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $331.33.

Cloudflare Price Performance

Shares of NET traded down $1.39 during trading hours on Wednesday, reaching $326.41. 220,745 shares of the company traded hands, compared to its average volume of 4,020,072. Cloudflare has a 12-month low of $158.83 and a 12-month high of $370.35. The business has a fifty day moving average price of $320.04 and a 200-day moving average price of $246.03.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $696.06 million during the quarter, compared to analyst estimates of $664.66 million. Cloudflare’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, equities research analysts predict that Cloudflare will post 0.03 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas Seifert sold 55,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $300.30, for a total value of $16,516,500.00. Following the completion of the sale, the chief financial officer directly owned 113,790 shares in the company, valued at $34,171,137. This represents a 32.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,383 shares of Cloudflare stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $283.42, for a total value of $14,846,389.86. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 476,339 shares of company stock worth $143,439,267. 10.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently bought and sold shares of NET. GK Wealth Management LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC raised its position in shares of Cloudflare by 65.3% during the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Cloudflare in the second quarter valued at approximately $30,000. CX Institutional lifted its holdings in Cloudflare by 49.4% in the second quarter. CX Institutional now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 44 shares during the last quarter. Finally, Cape Investment Advisory Inc. purchased a new position in Cloudflare in the second quarter worth approximately $33,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

About Cloudflare

Cloudflare, Inc (NYSE: NET) provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.

The company’s offerings include content delivery and authoritative domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.