Cloudflare (NYSE:NET) Price Target Raised to $135.00

Cloudflare (NYSE:NET) had its target price upped by Wells Fargo & Company from $110.00 to $135.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on NET. Royal Bank of Canada lifted their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Finally, Mizuho lifted their price objective 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. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $102.30.

Cloudflare Stock Up 1.9 %

NYSE NET opened at $115.82 on Tuesday. Cloudflare has a 12 month low of $66.24 and a 12 month high of $119.42. 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 stock has a market cap of $39.75 billion, a PE ratio of -445.46 and a beta of 1.10. The stock’s 50 day moving average is $104.34 and its 200 day moving average is $89.91.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Research analysts predict that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,223,962.26. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $90.88, for a total value of $1,363,200.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $25,573,904.64. This trade represents a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 644,620 shares of company stock valued at $66,433,687. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

Hedge funds have recently modified their holdings of the company. CVA Family Office LLC raised its stake in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP increased its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth $54,000. Finally, Versant Capital Management Inc grew its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 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.