Analysts Set Cloudflare, Inc. (NYSE:NET) Target Price at $102.30

Shares of Cloudflare, Inc. (NYSE:NET) have been assigned a consensus rating of “Hold” from the twenty-seven research firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $103.04.

Several analysts have issued reports on the stock. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price target for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Finally, Piper Sandler lifted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th.

Cloudflare Price Performance

NYSE:NET opened at $115.10 on Tuesday. Cloudflare has a 52-week low of $66.24 and a 52-week high of $119.42. The company has a market cap of $39.50 billion, a P/E ratio of -442.68 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock’s 50-day simple moving average is $107.20 and its 200 day simple moving average is $91.22.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, sell-side analysts forecast that Cloudflare will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,223,962.26. The trade was a 82.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 35,118 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at $18,212,582.70. This represents a 16.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 524,852 shares of company stock worth $55,386,256. 12.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new stake in Cloudflare in the fourth quarter valued at about $259,000. Wealth Management Partners LLC lifted its holdings in shares of Cloudflare by 3.3% in the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after acquiring an additional 114 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at approximately $287,000. LVW Advisors LLC grew its holdings in shares of Cloudflare by 14.4% during the 4th quarter. LVW Advisors LLC now owns 6,668 shares of the company’s stock valued at $718,000 after purchasing an additional 839 shares during the last quarter. Finally, Oak Ridge Investments LLC acquired a new position in Cloudflare during the 4th quarter worth approximately $4,913,000. 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.