Cloudflare (NYSE:NET) Given New $183.00 Price Target at The Goldman Sachs Group

Cloudflare (NYSE:NET) had its target price lifted by The Goldman Sachs Group from $140.00 to $183.00 in a research note published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

NET has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada raised their target price on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Scotiabank lifted their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and an average price target of $128.48.

Cloudflare Trading Up 17.9 %

Shares of Cloudflare stock opened at $166.88 on Friday. The firm’s 50 day simple moving average is $117.55 and its two-hundred day simple moving average is $96.24. Cloudflare has a 12-month low of $66.24 and a 12-month high of $171.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts expect that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at $17,115,283.62. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of NET. CVA Family Office LLC lifted its stake in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $38,000. Quarry LP lifted its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.