Cloudflare (NYSE:NET) Price Target Raised to $175.00

Cloudflare (NYSE:NET) had its price target lifted by investment analysts at Stifel Nicolaus from $136.00 to $175.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 5.88% from the stock’s current price.

Other analysts have also issued research reports about the stock. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday. Cantor Fitzgerald began coverage on Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Wells Fargo & Company raised their price objective on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Royal Bank of Canada upped their target price on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $119.56.

Cloudflare Price Performance

NYSE:NET traded up $23.77 during trading hours on Friday, reaching $165.29. 5,377,988 shares of the company traded hands, compared to its average volume of 3,382,584. Cloudflare has a 1-year low of $66.24 and a 1-year high of $165.00. The stock has a market cap of $56.73 billion, a P/E ratio of -634.87 and a beta of 1.12. The firm’s 50-day moving average is $116.71 and its 200-day moving average is $95.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last announced its 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 fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the 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 owns 252,869 shares of the company’s stock, valued at $24,030,141.07. This represents a 10.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,738 shares of company stock valued at $69,632,506 in the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in shares of Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after buying an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. lifted its position in Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Cloudflare by 0.5% in the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after buying an additional 107 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other 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.