KeyCorp Increases Cloudflare (NYSE:NET) Price Target to $132.00

Cloudflare (NYSE:NETGet Free Report) had its price target hoisted by research analysts at KeyCorp from $94.00 to $132.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 22.31% from the stock’s previous close.

Several other research firms have also recently issued reports on NET. Susquehanna upped their price target on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial boosted their target price on shares of Cloudflare from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada boosted their target price on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.13.

Read Our Latest Stock Analysis on Cloudflare

Cloudflare Trading Up 19.5 %

NET opened at $107.92 on Friday. The stock has a market capitalization of $36.24 billion, a PE ratio of -196.21 and a beta of 1.10. The firm’s fifty day moving average price is $81.90 and its 200 day moving average price is $70.25. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 16,901 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $72.13, for a total value of $1,219,069.13. Following the transaction, the chief financial officer now owns 243,495 shares in the company, valued at $17,563,294.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Cloudflare news, CFO Thomas J. Seifert sold 30,271 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $79.70, for a total transaction of $2,412,598.70. Following the transaction, the chief financial officer now owns 243,495 shares in the company, valued at $19,406,551.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 16,901 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $72.13, for a total value of $1,219,069.13. Following the transaction, the chief financial officer now owns 243,495 shares in the company, valued at approximately $17,563,294.35. The disclosure for this sale can be found here. Insiders sold 941,404 shares of company stock valued at $71,962,946 over the last three months. 14.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC boosted its position in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after acquiring an additional 130 shares during the period. Kingswood Wealth Advisors LLC boosted its position in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after acquiring an additional 132 shares during the period. Quent Capital LLC boosted its position in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after acquiring an additional 140 shares during the period. CWM LLC boosted its position in shares of Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after acquiring an additional 153 shares during the period. Finally, RFG Advisory LLC boosted its position in shares of Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock valued at $376,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds 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.

Further Reading

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.