Cloudflare (NYSE:NET) Price Target Raised to $180.00

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

Several other research firms also recently weighed in on NET. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Needham & Company LLC boosted their target price on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Stock Performance

NYSE NET opened at $166.88 on Friday. The company has a 50-day moving average price of $117.55 and a two-hundred day moving average price of $96.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38.

Cloudflare (NYSE:NET) last posted its earnings results 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%. Sell-side analysts expect that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, COO Michelle Zatlyn sold 35,118 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $18,212,582.70. This trade represents a 16.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 over the last three months. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new position in shares of Cloudflare in the second quarter valued at approximately $906,000. Diversified Trust Co acquired a new stake in shares of Cloudflare in the third quarter valued at about $471,000. CWM LLC boosted its stake in Cloudflare by 91.0% during the 3rd quarter. CWM LLC now owns 9,690 shares of the company’s stock valued at $784,000 after purchasing an additional 4,617 shares during the period. Wedmont Private Capital lifted its holdings in shares of Cloudflare by 41.7% during the third quarter. Wedmont Private Capital now owns 3,797 shares of the company’s stock worth $306,000 after buying an additional 1,118 shares during the last quarter. Finally, Tobam bought a new stake in shares of Cloudflare in the third quarter valued at approximately $75,000. 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.