Cloudflare (NYSE:NET) Price Target Raised to $149.00

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

A number of other equities analysts have also commented on NET. Needham & Company LLC boosted their price objective on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their target price 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. Scotiabank increased their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Guggenheim boosted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average target price of $128.48.

Cloudflare Stock Up 17.9 %

NYSE NET opened at $166.88 on Friday. 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 company has a market capitalization of $57.27 billion, a price-to-earnings ratio of -758.52 and a beta of 1.12. Cloudflare has a 1-year low of $66.24 and a 1-year high of $171.38. The stock’s 50 day moving average is $118.89 and its two-hundred day moving average is $97.11.

Cloudflare (NYSE:NET) last posted 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts forecast that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’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 transaction of $4,665,319.04. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % 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 in the last quarter. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently made changes to their positions in NET. CVA Family Office LLC boosted its stake in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 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. Quarry LP boosted its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Quest Partners LLC acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $54,000. Finally, Larson Financial Group LLC lifted its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in 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.