Mizuho Increases Cloudflare (NYSE:NET) Price Target to $125.00

Cloudflare (NYSE:NET) had its price target upped by research analysts at Mizuho from $102.00 to $125.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 10.04% from the stock’s current price.

NET has been the subject of a number of other research reports. UBS Group upped their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Scotiabank boosted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Finally, BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.20.

Cloudflare Stock Down 1.1 %

NET opened at $113.60 on Friday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The firm has a market capitalization of $38.99 billion, a P/E ratio of -436.92 and a beta of 1.10. The company’s 50-day moving average is $96.10 and its 200 day moving average is $85.03. 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 earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Research analysts expect that Cloudflare will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,572,040.44. This trade represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,824 shares of company stock worth $49,037,888 in the last three months. 12.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares in the last quarter. Quarry LP raised its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the third quarter worth about $38,000. Quest Partners LLC purchased a new position in shares of Cloudflare in the 3rd quarter worth about $54,000. Finally, Blue Trust Inc. increased its position in shares of Cloudflare by 37,600.0% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares during the last quarter. Hedge funds and other institutional investors 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.