Cloudflare (NYSE:NET) Given New $115.00 Price Target at JPMorgan Chase & Co.

Cloudflare (NYSE:NET) had its target price upped by JPMorgan Chase & Co. from $110.00 to $115.00 in a report issued on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday. 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. Piper Sandler upped their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Needham & Company LLC raised their target price on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $128.48.

Cloudflare Stock Up 17.9 %

NYSE:NET opened at $166.88 on Friday. The company has a fifty day moving average of $117.55 and a two-hundred day moving average of $96.24. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $171.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, equities research analysts forecast that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated 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 owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. 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 in the last ninety days. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Cloudflare during the second quarter worth approximately $906,000. Diversified Trust Co purchased a new position in shares of Cloudflare during the third quarter worth approximately $471,000. CWM LLC raised its holdings in shares of Cloudflare by 91.0% in the third quarter. CWM LLC now owns 9,690 shares of the company’s stock valued at $784,000 after buying an additional 4,617 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Cloudflare by 41.7% during the third quarter. Wedmont Private Capital now owns 3,797 shares of the company’s stock worth $306,000 after buying an additional 1,118 shares during the period. Finally, Tobam purchased a new position in shares of Cloudflare during the third quarter worth about $75,000. 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.