Cloudflare (NYSE:NET) Price Target Increased to $135.00 by Analysts at Needham & Company LLC

Cloudflare (NYSE:NETFree Report) had its price objective raised by Needham & Company LLC from $110.00 to $135.00 in a research note released on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

NET has been the topic of several other reports. KeyCorp lifted their price target on Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Morgan Stanley lifted their price target on Cloudflare from $55.00 to $60.00 and gave the company an equal weight rating in a research report on Tuesday, November 7th. Wells Fargo & Company lifted their target price on Cloudflare from $72.00 to $95.00 and gave the stock an overweight rating in a report on Monday, January 29th. Oppenheimer upgraded Cloudflare from a market perform rating to an outperform rating in a report on Tuesday, November 21st. Finally, Piper Sandler decreased their target price on Cloudflare from $64.00 to $60.00 and set a neutral rating on the stock in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $86.52.

Check Out Our Latest Report on Cloudflare

Cloudflare Stock Down 2.1 %

Shares of Cloudflare stock opened at $105.64 on Friday. The business’s fifty day moving average price is $82.41 and its two-hundred day moving average price is $70.57. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. The company has a market capitalization of $35.47 billion, a P/E ratio of -192.07 and a beta of 1.10. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $71.22, for a total transaction of $3,730,788.48. Following the transaction, the chief executive officer now directly owns 269,047 shares in the company, valued at $19,161,527.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $71.22, for a total value of $3,730,788.48. Following the sale, the chief executive officer now directly owns 269,047 shares in the company, valued at approximately $19,161,527.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 16,901 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $72.13, for a total value of $1,219,069.13. Following the completion of the sale, the chief financial officer now owns 243,495 shares in the company, valued at $17,563,294.35. The disclosure for this sale can be found here. Insiders have sold 939,020 shares of company stock worth $74,143,110 over the last three months. Company insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. acquired a new position in shares of Cloudflare in the 1st quarter valued at $29,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of Cloudflare in the 3rd quarter worth $38,000. GAMMA Investing LLC bought a new position in shares of Cloudflare in the 4th quarter worth $39,000. Providence Capital Advisors LLC boosted its position in shares of Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Pingora Partners LLC bought a new position in shares of Cloudflare in the 4th quarter worth $42,000. 73.14% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

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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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