Cloudflare (NYSE:NET) Price Target Raised to $180.00

Cloudflare (NYSE:NET) had its price objective lifted by JMP Securities from $135.00 to $180.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. UBS Group raised their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Royal Bank of Canada lifted their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Stifel Nicolaus increased their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday. Finally, Cantor Fitzgerald began coverage on Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Three equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $128.48.

Cloudflare Stock Up 17.9 %

NET stock opened at $166.88 on Friday. The business’s 50-day simple moving average is $118.89 and its 200 day simple moving average is $97.11. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $57.27 billion, a PE ratio of -758.52 and a beta of 1.12. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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, research analysts anticipate that Cloudflare will post -0.04 earnings per share for the current year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on 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 owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock worth $69,632,506 over the last 90 days. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently made changes to their positions in the stock. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare during the third quarter worth about $25,588,000. International Assets Investment Management LLC bought a new position in Cloudflare during the 3rd quarter worth approximately $147,160,000. Parnassus Investments LLC grew its holdings in Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after purchasing an additional 131,319 shares during the period. Geode Capital Management LLC increased its stake in Cloudflare by 2.6% in the third 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 in the last quarter. Finally, Generate Investment Management Ltd bought a new stake in Cloudflare in the fourth quarter valued at approximately $12,946,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.