Cloudflare (NYSE:NET) Stock Price Expected to Rise, Mizuho Analyst Says

Cloudflare (NYSE:NET) had its price target raised by research analysts at Mizuho from $130.00 to $160.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential downside of 8.22% from the company’s previous close.

Several other analysts have also recently commented on NET. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $133.28.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $7.66 during trading hours on Monday, hitting $174.32. The stock had a trading volume of 4,238,312 shares, compared to its average volume of 3,821,073. Cloudflare has a 1-year low of $66.24 and a 1-year high of $176.73. The firm has a market capitalization of $59.83 billion, a price-to-earnings ratio of -791.67 and a beta of 1.12. The stock’s fifty day simple moving average is $118.89 and its 200 day simple moving average is $97.11. 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 released its 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 return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts anticipate that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated 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 sale, 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 filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock valued at $69,632,506 in the last quarter. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently modified their holdings of NET. CVA Family Office LLC boosted its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the period. Capital Performance Advisors LLP bought a new position in Cloudflare during the 3rd quarter worth $38,000. Quarry LP raised its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC acquired a new stake in Cloudflare during the third quarter worth about $54,000. Finally, Larson Financial Group LLC raised its holdings in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.