Cloudflare (NYSE:NET) Price Target Raised to $125.00

Cloudflare (NYSE:NET) had its target price boosted by Mizuho from $102.00 to $125.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

NET has been the topic of several other research reports. UBS Group lifted their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler increased their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Scotiabank lifted their price objective on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $95.20.

Cloudflare Trading Down 1.1 %

Shares of NET stock opened at $113.60 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a fifty day moving average price of $96.10 and a 200-day moving average price of $85.10. The company has a market cap of $38.99 billion, a price-to-earnings ratio of -436.92 and a beta of 1.10. Cloudflare has a 1 year low of $66.24 and a 1 year high of $116.00.

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

Insider Buying and Selling

In other news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,572,040.44. This trade represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,824 shares of company stock valued at $49,037,888 in the last 90 days. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of the business. CVA Family Office LLC boosted its position in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP boosted its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the third quarter valued at about $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare during the third quarter valued at about $54,000. Finally, Blue Trust Inc. boosted its holdings in shares of Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after buying an additional 752 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other 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.