Cloudflare (NYSE:NET) Price Target Raised to $175.00 at Stifel Nicolaus

Cloudflare (NYSE:NET) had its target price raised by Stifel Nicolaus from $136.00 to $175.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 target price for the company. Mizuho upped their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Scotiabank raised their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Truist Financial boosted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $128.48.

Cloudflare Price Performance

NYSE NET opened at $166.88 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $171.38. The business has a fifty day moving average of $117.55 and a 200-day moving average of $96.24.

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 analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities research analysts predict that Cloudflare will post -0.04 earnings per share for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,738 shares of company stock valued at $69,632,506. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare during the third quarter worth approximately $25,588,000. International Assets Investment Management LLC bought a new position in Cloudflare during the 3rd quarter valued at $147,160,000. Parnassus Investments LLC grew its holdings in Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Finally, Generate Investment Management Ltd bought a new stake in shares of Cloudflare in the 4th quarter worth about $12,946,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.