Cloudflare (NYSE:NET) Given New $149.00 Price Target at Cantor Fitzgerald

Cloudflare (NYSE:NET) had its price objective raised by Cantor Fitzgerald from $111.00 to $149.00 in a research report released on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

NET has been the subject of a number of other research reports. Piper Sandler boosted their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday. Robert W. Baird reissued a “neutral” rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. UBS Group raised their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Scotiabank boosted their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $128.48.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $166.88 on Friday. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average of $117.55 and a two-hundred day moving average of $96.24.

Cloudflare (NYSE:NET) last released its 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities research analysts forecast that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on 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 in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction 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 approximately $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock worth $69,632,506 over the last quarter. 12.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently made changes to their positions in the company. Hartline Investment Corp lifted its holdings in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare during the third quarter worth $25,588,000. Charles Schwab Investment Management Inc. boosted its position in shares of Cloudflare by 2.7% in 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 acquiring an additional 29,960 shares during the period. National Pension Service grew its stake in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC bought a new position in Cloudflare during the fourth quarter worth about $265,000. Institutional investors own 82.68% of the company’s stock.

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.