Cloudflare (NYSE:NET) Price Target Raised to $170.00 at Susquehanna

Cloudflare (NYSE:NET) had its target price hoisted by Susquehanna from $95.00 to $170.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. The Goldman Sachs Group increased their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim boosted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday. Scotiabank increased their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Finally, Piper Sandler boosted their price objective on Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $133.28.

Cloudflare Price Performance

Shares of NYSE:NET opened at $172.40 on Monday. 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 $176.73. The firm has a market cap of $59.17 billion, a PE ratio of -783.65 and a beta of 1.12. The firm’s fifty day moving average is $120.24 and its 200-day moving average is $97.77.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts predict that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 633,738 shares of company stock worth $69,632,506. 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. Generali Asset Management SPA SGR purchased a new position in Cloudflare in the fourth quarter worth $1,133,000. Evoke Wealth LLC bought a new stake in shares of Cloudflare during the 4th quarter worth $240,000. Axxcess Wealth Management LLC purchased a new position in shares of Cloudflare in the 4th quarter worth about $234,000. Signaturefd LLC grew its position in Cloudflare by 1.2% during the fourth quarter. Signaturefd LLC now owns 10,211 shares of the company’s stock valued at $1,099,000 after buying an additional 124 shares during the period. Finally, SlateStone Wealth LLC increased its holdings in Cloudflare by 4.1% during the fourth quarter. SlateStone Wealth LLC now owns 3,062 shares of the company’s stock worth $330,000 after buying an additional 121 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

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.