Cloudflare (NYSE:NET) Given New $180.00 Price Target at JMP Securities

Cloudflare (NYSE:NET) had its price objective hoisted by JMP Securities from $135.00 to $180.00 in a research note published on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also issued reports on NET. Guggenheim lifted their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group boosted 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. Finally, Robert W. Baird restated a “neutral” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Three 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $128.48.

Cloudflare Stock Performance

Shares of NET stock opened at $166.88 on Friday. The company has a market capitalization of $57.27 billion, a P/E ratio of -758.52 and a beta of 1.12. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company’s 50 day moving average price is $118.89 and its two-hundred day moving average price is $97.11.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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

In other news, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,738 shares of company stock valued at $69,632,506. Insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently bought and sold shares of the company. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. International Assets Investment Management LLC acquired a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $147,160,000. Parnassus Investments LLC grew its holdings in shares of Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after purchasing an additional 131,319 shares during the last quarter. Geode Capital Management LLC increased its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Finally, Generate Investment Management Ltd bought a new position in Cloudflare in the 4th quarter valued at approximately $12,946,000. 82.68% of the stock is currently 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.