Cloudflare (NYSE:NET) Price Target Increased to $105.00 by Analysts at Mizuho

Cloudflare (NYSE:NET) had its price objective upped by analysts at Mizuho from $92.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 14.96% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada boosted their price target on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Wolfe Research assumed coverage on Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Susquehanna boosted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Guggenheim boosted their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Price Performance

Shares of NYSE NET opened at $91.34 on Thursday. Cloudflare has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $31.04 billion, a price-to-earnings ratio of -172.34 and a beta of 1.10. The business has a 50 day simple moving average of $81.86 and a 200-day simple moving average of $80.98.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Cloudflare will post -0.13 earnings per share for the current year.

Insider Activity

In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the completion of the sale, the insider now owns 195,303 shares in the company, valued at $15,071,532.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the sale, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at $6,546,941.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the sale, the insider now directly owns 195,303 shares in the company, valued at $15,071,532.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 402,784 shares of company stock worth $31,947,275 over the last 90 days. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% during the third 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. Riverview Trust Co acquired a new position in Cloudflare during the first quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its position in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the second quarter valued at $29,000. Finally, Quarry LP raised its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

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.