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

Cloudflare (NYSE:NET) had its price target raised by stock analysts at Mizuho from $92.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 14.96% from the company’s current price.

A number of other research analysts have also recently weighed in on the company. Guggenheim raised their price target on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Scotiabank began coverage on Cloudflare in a research report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $91.72.

Cloudflare Price Performance

Cloudflare stock opened at $91.34 on Thursday. Cloudflare has a one year low of $53.88 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The business has a fifty day moving average of $81.86 and a two-hundred day moving average of $80.98. The company has a market cap of $31.04 billion, a P/E ratio of -172.34 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, August 1st. The company reported $0.20 EPS 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 company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same quarter last year, the company earned ($0.12) earnings per share. Cloudflare’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, analysts predict that Cloudflare will post -0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $77.17, for a total value of $231,510.00. Following the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at $15,071,532.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Janel Riley sold 3,495 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 have sold 402,784 shares of company stock valued at $31,947,275 in the last three months. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Elo Mutual Pension Insurance Co lifted its position in Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock worth $2,253,000 after acquiring an additional 136 shares in the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Forum Financial Management LP increased its holdings in Cloudflare by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after purchasing an additional 162 shares during the last quarter. Soltis Investment Advisors LLC increased its holdings in Cloudflare by 0.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after purchasing an additional 168 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Cloudflare by 34.4% during the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares during the last quarter. 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.