Cloudflare (NYSE:NET) Price Target Increased to $90.00 by Analysts at JPMorgan Chase & Co.

Cloudflare (NYSE:NETGet Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from $53.00 to $90.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 16.60% from the stock’s current price.

NET has been the topic of a number of other reports. Mizuho raised their price objective on shares of Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday. Sanford C. Bernstein started coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. Truist Financial raised their price target on shares of Cloudflare from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price target on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $85.13.

Read Our Latest Stock Analysis on Cloudflare

Cloudflare Stock Up 19.5 %

Cloudflare stock opened at $107.92 on Friday. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00. The firm has a market capitalization of $36.24 billion, a price-to-earnings ratio of -196.21 and a beta of 1.10. The firm’s fifty day moving average price is $81.90 and its two-hundred day moving average price is $70.25. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.83.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 400 shares of Cloudflare stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $80.00, for a total value of $32,000.00. Following the sale, the chief financial officer now owns 243,495 shares of the company’s stock, valued at $19,479,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Thomas J. Seifert sold 400 shares of Cloudflare stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $80.00, for a total value of $32,000.00. Following the completion of the transaction, the chief financial officer now owns 243,495 shares in the company, valued at $19,479,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $63.48, for a total transaction of $3,325,336.32. Following the completion of the transaction, the chief executive officer now owns 269,047 shares of the company’s stock, valued at approximately $17,079,103.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 941,404 shares of company stock valued at $71,962,946. Company insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. increased its holdings in Cloudflare by 6.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock worth $5,808,000 after acquiring an additional 4,300 shares during the period. Sepio Capital LP increased its holdings in Cloudflare by 4.9% during the 4th quarter. Sepio Capital LP now owns 25,610 shares of the company’s stock worth $2,132,000 after acquiring an additional 1,186 shares during the period. Advisory Services Network LLC bought a new stake in Cloudflare during the 4th quarter worth approximately $182,000. Cambridge Investment Research Advisors Inc. increased its holdings in Cloudflare by 5.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock worth $5,478,000 after acquiring an additional 3,164 shares during the period. Finally, Balboa Wealth Partners bought a new stake in Cloudflare during the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors own 73.14% of the company’s stock.

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.

See Also

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.