Cloudflare (NYSE:NET) Price Target Raised to $160.00

Cloudflare (NYSE:NET) had its target price upped by Mizuho from $130.00 to $160.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts also recently issued reports about the stock. Guggenheim boosted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Morgan Stanley boosted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. JMP Securities boosted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Finally, Robert W. Baird restated a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $135.28.

Cloudflare Trading Up 0.1 %

Cloudflare stock opened at $172.78 on Monday. 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 50-day moving average price of $122.83 and a two-hundred day moving average price of $98.96. The firm has a market capitalization of $59.30 billion, a price-to-earnings ratio of -785.36 and a beta of 1.12. Cloudflare has a 52-week low of $66.24 and a 52-week high of $176.73.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts expect that Cloudflare will post -0.04 earnings per share for the current year.

Insider Activity

In related news, CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michelle Zatlyn sold 35,118 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at $18,212,582.70. The trade was a 16.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 581,354 shares of company stock worth $64,625,120 over the last 90 days. 12.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartline Investment Corp grew its position in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare in the third quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. grew its position in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares in the last quarter. National Pension Service grew its position in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC bought a new stake in Cloudflare in the fourth quarter worth approximately $265,000. 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.