Cantor Fitzgerald Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET) had its price target hoisted by equities research analysts at Cantor Fitzgerald from $111.00 to $149.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 11.99% from the company’s current price.

Several other research firms have also weighed in on NET. Royal Bank of Canada upped 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 raised their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities lifted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday. Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $125.20.

Cloudflare Trading Up 19.6 %

Shares of Cloudflare stock traded up $27.78 during trading hours on Friday, hitting $169.30. The company’s stock had a trading volume of 11,493,057 shares, compared to its average volume of 3,658,616. Cloudflare has a 1-year low of $66.24 and a 1-year high of $171.38. The company has a market capitalization of $58.10 billion, a PE ratio of -650.16 and a beta of 1.12. 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 business has a fifty day moving average of $116.71 and a 200 day moving average of $95.92.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities analysts forecast that Cloudflare will post -0.1 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the firm’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 transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,738 shares of company stock worth $69,632,506 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hartline Investment Corp boosted 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 acquired a new position in shares of Cloudflare during the 3rd quarter worth about $25,588,000. Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares during the last quarter. National Pension Service grew its holdings in shares of Cloudflare by 0.9% in the 3rd 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 during the period. Finally, Strategic Blueprint LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth $265,000. 82.68% of the stock is currently owned by institutional investors.

About Cloudflare

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.