Cloudflare (NYSE:NET) Stock Rating Upgraded by Stifel Nicolaus

Cloudflare (NYSE:NET) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a $136.00 price target on the stock, up from their previous price target of $95.00. Stifel Nicolaus’ price objective would suggest a potential upside of 18.62% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Scotiabank increased their price objective on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. BNP Paribas assumed coverage on Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Piper Sandler raised their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Mizuho raised their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.77.

Cloudflare Trading Up 0.9 %

NYSE NET opened at $114.65 on Tuesday. Cloudflare has a 12 month low of $66.24 and a 12 month high of $116.00. The stock has a market cap of $39.35 billion, a P/E ratio of -440.96 and a beta of 1.10. The stock’s fifty day moving average price is $96.78 and its 200-day moving average price is $85.43. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts forecast that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare 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 completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $19,572,040.44. The trade was a 12.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following 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. In the last 90 days, insiders sold 524,824 shares of company stock worth $49,037,888. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of NET. Baillie Gifford & Co. raised its position in Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Marshall Wace LLP boosted its position in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Cloudflare in the third quarter valued at about $25,588,000. American Century Companies Inc. raised its holdings in Cloudflare by 24.8% in 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 in the last quarter. Finally, Glynn Capital Management LLC purchased a new stake in shares of Cloudflare during the second quarter valued at about $16,765,000. 82.68% of the stock is owned by 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.