Mizuho Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its price target boosted by Mizuho from $130.00 to $160.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently commented on NET. Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Guggenheim increased their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday. Finally, UBS Group boosted their price objective on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $133.28.

Cloudflare Price Performance

NET stock 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. The business has a 50-day simple moving average of $120.24 and a two-hundred day simple moving average of $97.77. The company has a market capitalization of $59.17 billion, a P/E ratio of -783.65 and a beta of 1.12. Cloudflare has a 52-week low of $66.24 and a 52-week high of $176.73.

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

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $34,549,491.47. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 in the last quarter. 12.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of NET. Hartline Investment Corp increased its holdings in shares of Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the third quarter valued at $25,588,000. Charles Schwab Investment Management Inc. raised its position in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares in the last quarter. National Pension Service lifted its stake in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in shares of Cloudflare in the 4th quarter worth about $265,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.