Brokerages Set Cloudflare, Inc. (NYSE:NET) PT at $97.81

Shares of Cloudflare, Inc. (NYSE:NET) have earned a consensus recommendation of “Hold” from the twenty-eight analysts that are covering the company, MarketBeat reports. Four equities research 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. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $97.81.

NET has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. UBS Group raised their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. Mizuho raised their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at $22,284,303.57. This represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,204,267.80. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 629,592 shares of company stock worth $61,334,450 in the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Quarry LP lifted its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its holdings in shares of Cloudflare by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after acquiring an additional 136 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Cloudflare by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after acquiring an additional 137 shares during the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of Cloudflare by 6.1% in the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after acquiring an additional 162 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Up 3.8 %

Shares of Cloudflare stock opened at $112.69 on Friday. The stock has a market cap of $38.67 billion, a PE ratio of -433.42 and a beta of 1.10. The firm has a fifty day moving average price of $98.69 and a 200 day moving average price of $86.66. 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 has a 1 year low of $66.24 and a 1 year high of $119.42.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts predict that Cloudflare will post -0.1 earnings per share for the current year.

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.