Cloudflare (NYSE:NET) Price Target Raised to $175.00

Cloudflare (NYSE:NET) had its target price increased by Stifel Nicolaus from $136.00 to $175.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Mizuho lifted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. UBS Group lifted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three equities 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Price Performance

Shares of NYSE NET opened at $166.88 on Friday. The firm has a market cap of $57.27 billion, a P/E ratio of -758.52 and a beta of 1.12. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $118.89 and a 200 day moving average of $97.11.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. As a group, research analysts expect that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,738 shares of company stock valued at $69,632,506. 12.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Large investors have recently made changes to their positions in the company. CVA Family Office LLC boosted its stake in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quarry LP boosted its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Cloudflare in the third quarter valued at $54,000. Finally, Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares in 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.