Analysts Set Cloudflare, Inc. (NYSE:NET) Target Price at $87.50

Shares of Cloudflare, Inc. (NYSE:NET) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $87.08.

A number of research analysts recently commented on the stock. Wells Fargo & Company increased their price target on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 9th. 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 research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Capital One Financial began coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective for the company. Finally, Truist Financial lifted their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $95.29, for a total transaction of $4,991,671.36. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at approximately $21,975,017.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $95.29, for a total transaction of $4,991,671.36. Following the sale, the chief executive officer now owns 230,612 shares in the company, valued at approximately $21,975,017.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now owns 243,495 shares in the company, valued at approximately $18,926,866.35. The disclosure for this sale can be found here. Insiders sold 1,070,903 shares of company stock valued at $103,653,456 over the last ninety days. 14.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the period. Capital World Investors boosted its holdings in shares of Cloudflare by 1.8% in the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after purchasing an additional 487,308 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after purchasing an additional 6,068,873 shares in the last quarter. State Street Corp boosted its holdings in shares of Cloudflare by 5.3% in the 1st quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after purchasing an additional 278,422 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Cloudflare by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after acquiring an additional 146,503 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Trading Up 0.8 %

NYSE:NET opened at $91.04 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The firm has a market capitalization of $30.74 billion, a price-to-earnings ratio of -165.52 and a beta of 1.13. Cloudflare has a one year low of $39.90 and a one year high of $116.00. The business has a fifty day moving average price of $96.84 and a 200-day moving average price of $81.55.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Sell-side analysts forecast that Cloudflare will post -0.2 EPS for the current year.

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.