Susquehanna Raises Cloudflare (NYSE:NET) Price Target to $170.00

Cloudflare (NYSE:NET) had its price target raised by investment analysts at Susquehanna from $95.00 to $170.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price would suggest a potential downside of 3.13% from the stock’s previous close.

NET has been the topic of several other reports. Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Jefferies Financial Group raised their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Scotiabank upped their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $131.88.

Cloudflare Stock Performance

Shares of NET traded up $8.83 during trading hours on Monday, hitting $175.49. The company had a trading volume of 3,115,428 shares, compared to its average volume of 3,757,570. The business has a fifty day moving average of $118.89 and a 200-day moving average of $97.11. 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 firm has a market cap of $60.23 billion, a price-to-earnings ratio of -795.40 and a beta of 1.12. Cloudflare has a 12 month low of $66.24 and a 12 month high of $176.54.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Equities analysts anticipate that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, 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 value of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock valued at $69,632,506 in the last quarter. 12.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after buying an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cloudflare by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after buying an additional 63,945 shares during the last quarter. Swiss National Bank lifted its stake in Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in Cloudflare by 0.4% during the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after acquiring an additional 2,483 shares during the last quarter. 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.