Cloudflare (NYSE:NET) Given New $165.00 Price Target at UBS Group

Cloudflare (NYSE:NET) had its price objective hoisted by equities research analysts at UBS Group from $130.00 to $165.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 0.17% from the company’s previous close.

Several other equities analysts have also recently commented on NET. Truist Financial upped their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a report on Friday, January 17th. They set a “neutral” rating and a $111.00 price objective for the company. Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $119.56.

Cloudflare Stock Performance

Cloudflare stock traded up $23.77 on Friday, reaching $165.29. 5,377,988 shares of the stock were exchanged, compared to its average volume of 3,382,584. Cloudflare has a twelve month low of $66.24 and a twelve month high of $165.00. The stock has a market cap of $56.73 billion, a PE ratio of -634.87 and a beta of 1.12. The firm has a fifty day moving average price of $116.71 and a two-hundred day moving average price of $95.92. 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 announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts anticipate that Cloudflare will post -0.1 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The stock was 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 owns 252,869 shares in the company, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,738 shares of company stock worth $69,632,506 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NET. CVA Family Office LLC boosted its position 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 purchasing an additional 171 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quarry LP increased its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Quest Partners LLC bought a new stake in Cloudflare in the 3rd quarter valued at $54,000. Finally, Larson Financial Group LLC lifted its holdings in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.