Cloudflare (NYSE:NET) Price Target Raised to $115.00

Cloudflare (NYSE:NET) had its target price increased by JPMorgan Chase & Co. from $110.00 to $115.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 31.09% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. UBS Group raised their target price on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. The Goldman Sachs Group lifted their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial raised their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada boosted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $128.48.

Cloudflare Price Performance

NET stock traded up $25.36 during trading on Friday, hitting $166.88. The stock had a trading volume of 15,052,508 shares, compared to its average volume of 3,732,141. The company’s 50-day moving average price is $117.55 and its two-hundred day moving average price is $96.24. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38. The stock has a market capitalization of $57.27 billion, a P/E ratio of -641.83 and a beta of 1.12. 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 (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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%. As a group, research analysts predict that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction 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 $34,549,491.47. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,738 shares of company stock valued at $69,632,506 in the last three months. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NET. Stratos Wealth Partners LTD. raised its stake in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after acquiring an additional 105 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Cloudflare by 0.5% in the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.