Cloudflare (NYSE:NET) Price Target Raised to $110.00

Cloudflare (NYSE:NET) had its target price upped by Wells Fargo & Company from $105.00 to $110.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently commented on NET. Mizuho increased their price objective on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Scotiabank increased their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday. UBS Group boosted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada boosted their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.88.

Cloudflare Price Performance

NYSE NET opened at $91.25 on Friday. The firm’s 50 day moving average is $84.77 and its 200-day moving average is $80.64. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $31.18 billion, a PE ratio of -350.96 and a beta of 1.10. Cloudflare has a 12-month low of $61.34 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.53%. The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Equities research analysts anticipate that Cloudflare will post -0.13 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 3,495 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total value of $285,366.75. Following the sale, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now owns 281,403 shares in the company, valued at $24,422,966.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 3,495 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at $6,546,941.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 477,043 shares of company stock valued at $39,737,342 over the last three months. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of NET. Baillie Gifford & Co. boosted its position in Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the period. Vanguard Group Inc. grew its stake in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Capital World Investors raised its position in Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Cloudflare by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after buying an additional 19,446 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after buying an additional 855,334 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

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.