Jefferies Financial Group Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its target price boosted by analysts at Jefferies Financial Group from $100.00 to $125.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target suggests a potential upside of 15.00% from the stock’s current price.

NET has been the topic of several other reports. Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Wells Fargo & Company upped their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Mizuho boosted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $136.00 in a research note on Tuesday. Finally, BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price for the company. Four 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 stock. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus price target of $97.81.

Cloudflare Price Performance

NYSE NET traded down $0.40 during trading hours on Thursday, hitting $108.70. The company had a trading volume of 1,002,508 shares, compared to its average volume of 3,150,175. The firm has a 50 day simple moving average of $97.98 and a 200 day simple moving average of $85.94. The firm has a market capitalization of $37.30 billion, a price-to-earnings ratio of -418.08 and a beta of 1.10. Cloudflare has a 52 week low of $66.24 and a 52 week high of $119.42. 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 (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Equities research analysts expect that Cloudflare will post -0.1 earnings per share for the current year.

Insider Activity at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total value 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. This trade represents a 12.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $22,284,303.57. The trade was a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 509,824 shares of company stock valued at $47,862,488. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Cloudflare by 18.0% during the third quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock valued at $1,880,000 after buying an additional 3,550 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Cloudflare during the 3rd quarter valued at $204,000. Sanctuary Advisors LLC grew its position in Cloudflare by 37.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock valued at $1,143,000 after acquiring an additional 3,835 shares during the last quarter. Virtu Financial LLC purchased a new stake in Cloudflare in the third quarter worth $1,268,000. Finally, Advisory Resource Group lifted its position in shares of Cloudflare by 1.6% during the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock worth $1,020,000 after purchasing an additional 195 shares during the last quarter. 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.