Cloudflare (NYSE:NET) Price Target Raised to $149.00

Cloudflare (NYSE:NET) had its target price boosted by stock analysts at Cantor Fitzgerald from $111.00 to $149.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential downside of 11.99% from the stock’s previous close.

A number of other equities analysts also recently commented on NET. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday. Mizuho increased their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $125.20.

Cloudflare Price Performance

NYSE NET traded up $27.78 during trading hours on Friday, hitting $169.30. The company had a trading volume of 11,493,057 shares, compared to its average volume of 3,658,616. The firm has a 50 day simple moving average of $116.71 and a 200 day simple moving average of $95.92. 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 has a 52 week low of $66.24 and a 52 week high of $171.38. The firm has a market capitalization of $58.10 billion, a price-to-earnings ratio of -650.16 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities research analysts expect that Cloudflare will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $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 have sold 633,738 shares of company stock worth $69,632,506 over the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NET. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cloudflare by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,689 shares of the company’s stock valued at $9,012,000 after purchasing an additional 1,360 shares in the last quarter. OFI Invest Asset Management purchased a new stake in Cloudflare in the 4th quarter worth about $525,000. Personal CFO Solutions LLC purchased a new stake in Cloudflare during the fourth quarter valued at approximately $266,000. Larson Financial Group LLC grew its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Cloudflare by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,076 shares of the company’s stock worth $654,000 after purchasing an additional 655 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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.