Cloudflare (NYSE:NET) PT Raised to $105.00 at Mizuho

Cloudflare (NYSE:NET) had its price target lifted by Mizuho from $92.00 to $105.00 in a research note published on Thursday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the company. Guggenheim boosted their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Susquehanna boosted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Cantor Fitzgerald raised their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Piper Sandler raised their price target on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $91.72.

Cloudflare Stock Up 0.4 %

Cloudflare stock opened at $90.80 on Thursday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $30.85 billion, a PE ratio of -171.32 and a beta of 1.10. The firm’s fifty day moving average is $82.39 and its 200 day moving average is $80.82. Cloudflare has a 12-month low of $53.88 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) earnings per share. As a group, sell-side analysts predict that Cloudflare will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.17, for a total transaction of $231,510.00. Following the sale, the insider now directly owns 195,303 shares of the company’s stock, valued at $15,071,532.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the completion of the transaction, the chief accounting officer now directly owns 80,183 shares in the company, valued at approximately $6,546,941.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $77.17, for a total value of $231,510.00. Following the sale, the insider now owns 195,303 shares in the company, valued at approximately $15,071,532.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 507,552 shares of company stock valued at $41,631,505. 12.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after acquiring an additional 119 shares during the period. Slow Capital Inc. purchased a new stake in Cloudflare in the 3rd quarter worth approximately $4,255,000. Blue Trust Inc. boosted its holdings in Cloudflare by 224.5% in the 3rd quarter. Blue Trust Inc. now owns 2,447 shares of the company’s stock valued at $203,000 after purchasing an additional 1,693 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Cloudflare by 17.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,942 shares of the company’s stock valued at $2,260,000 after purchasing an additional 4,230 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of Cloudflare by 9.5% in the third quarter. Bleakley Financial Group LLC now owns 3,620 shares of the company’s stock worth $293,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.