Analysts Set Cloudflare, Inc. (NYSE:NET) Price Target at $128.48

Cloudflare, Inc. (NYSE:NET) has earned a consensus rating of “Hold” from the twenty-seven research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $135.28.

Several analysts have recently commented on NET shares. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Cantor Fitzgerald increased their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Piper Sandler boosted their price target on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the transaction, the chief executive officer now owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. The trade was a 21.42 % 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, insider Douglas James Kramer sold 2,481 shares of the business’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 completion of the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 581,354 shares of company stock valued at $64,625,120. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently added to or reduced their stakes in NET. Sanctuary Advisors LLC bought a new stake in shares of Cloudflare in the 2nd quarter worth approximately $906,000. Diversified Trust Co bought a new stake in Cloudflare in the third quarter worth $471,000. CWM LLC boosted its position in Cloudflare by 91.0% during the third quarter. CWM LLC now owns 9,690 shares of the company’s stock valued at $784,000 after buying an additional 4,617 shares during the period. Wedmont Private Capital grew its stake in shares of Cloudflare by 41.7% during the third 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 shares of Cloudflare in the third quarter worth about $75,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $172.78 on Friday. The stock has a market cap of $59.30 billion, a P/E ratio of -785.36 and a beta of 1.12. The business’s fifty day moving average is $122.83 and its 200 day moving average is $98.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 12-month low of $66.24 and a 12-month high of $176.73.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts anticipate that Cloudflare will post -0.04 earnings per share for the current fiscal year.

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.