Cloudflare (NYSE:NET) Price Target Raised to $115.00 at JPMorgan Chase & Co.

Cloudflare (NYSE:NET) had its price objective lifted by JPMorgan Chase & Co. from $110.00 to $115.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley raised their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their target price on Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday. Finally, UBS Group upped their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Trading Up 17.9 %

Cloudflare stock opened at $166.88 on Friday. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38. The stock has a 50-day moving average price of $117.55 and a 200 day moving average price of $96.24. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, analysts expect that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the 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 transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the sale, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,738 shares of company stock worth $69,632,506 over the last ninety days. 12.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its holdings in shares of Cloudflare by 30.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the company’s stock worth $393,000 after purchasing an additional 850 shares during the last quarter. Miller Financial Services LLC bought a new position in shares of Cloudflare during the fourth quarter valued at about $445,000. Clare Market Investments LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $702,000. Independent Advisor Alliance grew its stake in shares of Cloudflare by 0.5% in the fourth quarter. Independent Advisor Alliance now owns 28,292 shares of the company’s stock worth $3,046,000 after purchasing an additional 130 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Cloudflare by 3.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,552 shares of the company’s stock valued at $2,536,000 after purchasing an additional 800 shares during the last quarter. 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.