Cantor Fitzgerald Reiterates “Neutral” Rating for Cloudflare (NYSE:NET)

Cantor Fitzgerald restated their neutral rating on shares of Cloudflare (NYSE:NETFree Report) in a research note released on Friday morning, MarketBeat reports. They currently have a $100.00 price target on the stock, up from their previous price target of $70.00.

Several other research analysts also recently commented on the company. Wells Fargo & Company lifted their price target on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research report on Friday. KeyCorp boosted their price target on Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a research note on Thursday, January 18th. JMP Securities boosted their price target on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. Susquehanna boosted their price target on Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a research note on Friday. Finally, Piper Sandler reduced their price objective on Cloudflare from $64.00 to $60.00 and set a neutral rating on the stock in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Cloudflare has an average rating of Hold and a consensus price target of $86.52.

Read Our Latest Stock Report on Cloudflare

Cloudflare Stock Performance

Shares of NYSE NET opened at $105.64 on Friday. The business’s 50-day simple moving average is $82.41 and its 200-day simple moving average is $70.57. Cloudflare has a 52 week low of $39.90 and a 52 week high of $116.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 3.89 and a current ratio of 3.89. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of -192.07 and a beta of 1.10.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 30,251 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $74.37, for a total value of $2,249,766.87. Following the completion of the sale, the director now directly owns 1,657,869 shares in the company, valued at approximately $123,295,717.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cloudflare news, Director Carl Ledbetter sold 30,251 shares of Cloudflare stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $74.37, for a total transaction of $2,249,766.87. Following the completion of the transaction, the director now owns 1,657,869 shares in the company, valued at approximately $123,295,717.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 939,020 shares of company stock valued at $74,143,110. 14.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NET. Scotia Capital Inc. bought a new position in shares of Cloudflare during the fourth quarter valued at about $306,000. Pingora Partners LLC bought a new position in Cloudflare in the fourth quarter worth about $42,000. Parnassus Investments LLC grew its holdings in Cloudflare by 12.0% in the fourth quarter. Parnassus Investments LLC now owns 3,919 shares of the company’s stock worth $326,000 after purchasing an additional 420 shares during the period. Olympiad Research LP purchased a new stake in Cloudflare in the fourth quarter worth about $230,000. Finally, Stifel Financial Corp grew its holdings in Cloudflare by 4.6% in the fourth quarter. Stifel Financial Corp now owns 38,003 shares of the company’s stock worth $3,164,000 after purchasing an additional 1,671 shares during the period. 73.14% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Company Profile

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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, secure origin connection, and rate limiting products.

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Analyst Recommendations for Cloudflare (NYSE:NET)

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