Cloudflare (NYSE:NET) Price Target Raised to $68.00

Cloudflare (NYSE:NET) had its price objective increased by Guggenheim from $57.00 to $68.00 in a research report sent to investors on Friday,Benzinga reports. Guggenheim currently has a sell rating on the stock.

A number of other research analysts have also commented on NET. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, Oppenheimer cut shares of 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 given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $128.48.

Cloudflare Price Performance

Shares of NYSE NET opened at $166.88 on Friday. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38. The company has a market cap of $57.27 billion, a PE ratio of -758.52 and a beta of 1.12. The business’s 50 day moving average price is $118.89 and its two-hundred day moving average price is $97.11. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted 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, analysts predict that Cloudflare will post -0.04 EPS for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock worth $69,632,506 over the last ninety days. 12.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Hartline Investment Corp grew its stake in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 2.7% in 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 in the last quarter. National Pension Service lifted its position in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares during the period. Finally, Strategic Blueprint LLC bought a new position in Cloudflare during the fourth quarter worth $265,000. 82.68% of the stock is owned by 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.