Brokerages Set Cloudflare, Inc. (NYSE:NET) Target Price at $102.30

Cloudflare, Inc. (NYSE:NET) has received an average recommendation of “Hold” from the twenty-six ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $107.00.

Several research firms recently weighed in on NET. UBS Group lifted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada raised their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the stock from $95.00 to $136.00 in a report on Tuesday, December 17th. Finally, Mizuho raised their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,852 shares of company stock valued at $55,386,256 over the last ninety days. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the business. CVA Family Office LLC boosted its position in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP boosted its position in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the third quarter valued at about $38,000. Quest Partners LLC bought a new stake in shares of Cloudflare in the third quarter valued at about $54,000. Finally, Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 2.0 %

Cloudflare stock opened at $117.13 on Tuesday. The company’s 50 day simple moving average is $108.20 and its 200 day simple moving average is $91.77. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $121.02. The firm has a market capitalization of $40.20 billion, a price-to-earnings ratio of -450.49 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, sell-side analysts anticipate that Cloudflare will post -0.1 EPS for the current year.

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.