Cloudflare (NYSE:NET) Price Target Raised to $95.00

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

NET has been the subject of several other reports. Scotiabank upped their price objective on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday. Guggenheim raised their price objective on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Cantor Fitzgerald raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.88.

Cloudflare Stock Up 2.1 %

Cloudflare stock opened at $93.17 on Friday. Cloudflare has a one year low of $62.39 and a one year high of $116.00. The stock has a fifty day moving average of $84.99 and a 200 day moving average of $80.68. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market cap of $31.84 billion, a PE ratio of -358.35 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.53%. As a group, sell-side analysts predict that Cloudflare will post -0.13 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at $1,010,995.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total transaction of $4,921,476.80. Following the sale, the chief executive officer now directly owns 10,761 shares in the company, valued at $1,010,995.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michelle Zatlyn sold 64,100 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $15,681,643.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 477,043 shares of company stock valued at $39,737,342. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after buying an additional 855,334 shares during the period. Capital World Investors grew its stake 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 buying an additional 584,566 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 buying an additional 412,864 shares during the period. Finally, WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. 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.