Cloudflare (NYSE:NET) Given New $105.00 Price Target at Mizuho

Cloudflare (NYSE:NETFree Report) had its target price increased by Mizuho from $73.00 to $105.00 in a report released on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

NET has been the subject of several other research reports. KeyCorp raised their price objective on shares of Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Piper Sandler dropped their target price on shares of Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a report on Friday, November 3rd. JMP Securities raised their target price on shares of Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Morgan Stanley raised their target price on shares of Cloudflare from $55.00 to $60.00 and gave the company an equal weight rating in a report on Tuesday, November 7th. Finally, Truist Financial raised their target price on shares of Cloudflare from $80.00 to $90.00 and gave the company a buy rating in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $85.13.

Get Our Latest Research Report on Cloudflare

Cloudflare Stock Performance

Shares of NYSE NET opened at $107.81 on Friday. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.83. Cloudflare has a 52 week low of $39.90 and a 52 week high of $116.00. The firm has a 50-day moving average price of $81.90 and a 200 day moving average price of $70.23.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $63.48, for a total transaction of $3,325,336.32. Following the transaction, the chief executive officer now directly owns 269,047 shares of the company’s stock, valued at $17,079,103.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $63.48, for a total transaction of $3,325,336.32. Following the transaction, the chief executive officer now directly owns 269,047 shares of the company’s stock, valued at $17,079,103.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold a total of 941,404 shares of company stock valued at $71,962,946 over the last ninety days. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NET. Capital World Investors boosted its stake in shares of Cloudflare by 56.7% in the second quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock valued at $1,727,949,000 after purchasing an additional 9,560,273 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the period. Norges Bank purchased a new position in shares of Cloudflare in the fourth quarter valued at $124,592,000. 1832 Asset Management L.P. boosted its stake in Cloudflare by 315.1% during the 1st quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after acquiring an additional 1,433,500 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Cloudflare by 215.1% during the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after acquiring an additional 918,096 shares during the last quarter. 73.14% of the stock is currently owned by hedge funds and other institutional investors.

About Cloudflare

(Get Free Report)

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.

Read More

Analyst Recommendations for Cloudflare (NYSE:NET)

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.