Cloudflare (NYSE:NET) Price Target Raised to $95.00

Cloudflare (NYSE:NET) had its price target upped by UBS Group from $88.00 to $95.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other analysts also recently commented on the company. Royal Bank of Canada boosted their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday. Susquehanna boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, Mizuho upped their price target on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Four 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.88.

Cloudflare Stock Performance

NET opened at $91.25 on Friday. 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 business’s 50 day moving average is $84.77 and its 200-day moving average is $80.64. The stock has a market cap of $31.18 billion, a PE ratio of -350.96 and a beta of 1.10. Cloudflare has a twelve month low of $61.34 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.53%. On average, analysts predict that Cloudflare will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other news, Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the transaction, the director now owns 5,927 shares in the company, valued at approximately $521,576. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at $24,422,966.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock worth $39,737,342 over the last ninety days. 12.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Marshall Wace LLP grew its stake in Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after buying an additional 855,334 shares during the last quarter. Capital World Investors raised its holdings in Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after acquiring an additional 584,566 shares during the period. Vanguard Group Inc. lifted its position in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after acquiring an additional 412,864 shares during the last quarter. Finally, WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare during the third quarter valued at about $25,588,000. 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.