JMP Securities Raises Cloudflare (NYSE:NET) Price Target to $180.00

Cloudflare (NYSE:NET) had its target price increased by research analysts at JMP Securities from $135.00 to $180.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 7.23% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald began coverage on Cloudflare in a report on Friday, January 17th. They set a “neutral” rating and a $111.00 target price on the stock. Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley lifted their target price on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Needham & Company LLC boosted their price objective on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group boosted their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $121.96.

Cloudflare Stock Up 18.6 %

Shares of NYSE:NET traded up $26.34 on Friday, hitting $167.86. 8,044,991 shares of the company’s stock were exchanged, compared to its average volume of 3,506,519. The firm’s 50-day moving average is $116.71 and its 200 day moving average is $95.92. The company has a market capitalization of $57.61 billion, a PE ratio of -643.34 and a beta of 1.12. Cloudflare has a 1-year low of $66.24 and a 1-year high of $168.35. 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 posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts predict that Cloudflare will post -0.1 EPS for the current year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $27,790,303.10. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 633,738 shares of company stock worth $69,632,506. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds have recently modified their holdings of NET. CVA Family Office LLC increased its holdings in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare during the third quarter worth approximately $38,000. Quarry LP increased its holdings in shares of 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. Quest Partners LLC acquired a new stake in shares of Cloudflare during the third quarter worth approximately $54,000. Finally, Larson Financial Group LLC increased its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

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.