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

Cloudflare (NYSE:NET) had its price target lifted by Jefferies Financial Group from $100.00 to $125.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 10.92% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. BNP Paribas began coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. UBS Group upped their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Piper Sandler lifted their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Mizuho boosted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus price target of $97.81.

Cloudflare Trading Up 3.8 %

NYSE:NET opened at $112.69 on Thursday. The stock has a market cap of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. 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 1 year low of $66.24 and a 1 year high of $119.42. The business has a fifty day moving average of $98.69 and a 200-day moving average of $86.41.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities analysts predict that Cloudflare will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,204,267.80. This trade represents a 82.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at $19,572,040.44. This represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 629,592 shares of company stock worth $61,334,450 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. raised its position in Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after buying an additional 2,575,396 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after acquiring an additional 855,334 shares during the period. American Century Companies Inc. boosted its position in Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Cloudflare by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,251,670 shares of the company’s stock valued at $103,676,000 after buying an additional 35,884 shares during the last quarter. 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.