Cloudflare (NYSE:NET) Price Target Raised to $115.00 at Susquehanna

Cloudflare (NYSE:NETFree Report) had its price objective lifted by Susquehanna from $75.00 to $115.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

NET has been the subject of several other research reports. Capital One Financial assumed coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an equal weight rating and a $83.00 price target for the company. KeyCorp increased their target price on shares of Cloudflare from $70.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, January 18th. Morgan Stanley increased their target price on shares of Cloudflare from $55.00 to $60.00 and gave the stock an equal weight rating in a research report on Tuesday, November 7th. Wells Fargo & Company increased their target price on shares of Cloudflare from $72.00 to $95.00 and gave the stock an overweight rating in a research report on Monday, January 29th. Finally, Piper Sandler cut their target price on shares of Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cloudflare has an average rating of Hold and a consensus price target of $85.13.

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Cloudflare Stock Performance

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

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the transaction, the director now directly owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carl Ledbetter sold 66,384 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the transaction, the director now directly owns 1,472,932 shares in the company, valued at approximately $127,968,332.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at $30,002,489.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 941,404 shares of company stock worth $71,962,946. 14.80% of the stock is owned by insiders.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of NET. Sunbelt Securities Inc. acquired a new stake in Cloudflare in the 1st quarter worth $29,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of Cloudflare during the 3rd quarter worth about $38,000. GAMMA Investing LLC bought a new position in shares of Cloudflare during the 4th quarter worth about $39,000. Providence Capital Advisors LLC lifted its holdings in shares of Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after acquiring an additional 2,426 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after acquiring an additional 514 shares during the period. 73.14% of the stock is currently owned by institutional investors and hedge funds.

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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