Cloudflare (NYSE:NET) Stock Price Expected to Rise, UBS Group Analyst Says

Cloudflare (NYSE:NET) had its price objective increased by UBS Group from $88.00 to $95.00 in a research report report published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on NET. Cantor Fitzgerald raised their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Guggenheim upped their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Piper Sandler lifted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus price target of $92.88.

Cloudflare Price Performance

NET stock opened at $93.17 on Friday. The firm has a 50 day simple moving average of $84.99 and a two-hundred day simple moving average of $80.68. The stock has a market cap of $31.84 billion, a PE ratio of -358.35 and a beta of 1.10. Cloudflare has a one year low of $62.39 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.53%. The company had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. On average, analysts predict that Cloudflare will post -0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $15,114,520.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $14,632,356.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock worth $39,737,342 over the last three months. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in shares of Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after acquiring an additional 412,864 shares during the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after acquiring an additional 584,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Cloudflare by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after purchasing an additional 19,446 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.