Cloudflare (NYSE:NET) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cloudflare (NYSE:NET) had its target price raised by JPMorgan Chase & Co. from $110.00 to $115.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also commented on NET. Mizuho raised their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Needham & Company LLC boosted their price target on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. UBS Group increased their price objective on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus boosted their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Stock Up 17.9 %

Cloudflare stock opened at $166.88 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a 50 day moving average price of $118.89 and a 200 day moving average price of $97.11. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $171.38. The company has a market capitalization of $57.27 billion, a PE ratio of -758.52 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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%. Research analysts expect that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on 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 in the company, valued at $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. Insiders have sold 633,738 shares of company stock worth $69,632,506 in the last quarter. 12.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Cloudflare during the 2nd quarter valued at approximately $906,000. Diversified Trust Co purchased a new stake in shares of Cloudflare during the third quarter worth approximately $471,000. CWM LLC lifted its holdings in shares of Cloudflare by 91.0% during the third quarter. CWM LLC now owns 9,690 shares of the company’s stock worth $784,000 after purchasing an additional 4,617 shares during the period. Wedmont Private Capital grew its position in Cloudflare by 41.7% in the 3rd quarter. Wedmont Private Capital now owns 3,797 shares of the company’s stock valued at $306,000 after buying an additional 1,118 shares during the last quarter. Finally, Tobam purchased a new position in Cloudflare during the 3rd quarter worth $75,000. 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.