Cloudflare (NYSE:NET) PT Raised to $105.00 at Mizuho

Cloudflare (NYSE:NET) had its price target boosted by Mizuho from $92.00 to $105.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on NET. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective on the stock. BNP Paribas assumed coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Robert W. Baird increased their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Guggenheim increased their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $91.72.

Cloudflare Price Performance

NET stock opened at $90.80 on Thursday. The firm has a 50 day simple moving average of $82.39 and a two-hundred day simple moving average of $80.82. The stock has a market cap of $30.85 billion, a PE ratio of -171.32 and a beta of 1.10. Cloudflare has a one year low of $53.88 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Cloudflare will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $90.92, for a total transaction of $4,762,753.28. Following the sale, the chief executive officer now directly owns 10,761 shares of the company’s stock, valued at approximately $978,390.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $90.92, for a total value of $4,762,753.28. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $978,390.12. This 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 can be accessed through this link. Also, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at approximately $15,873,820.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 507,552 shares of company stock valued at $41,631,505 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently made changes to their positions in NET. PNC Financial Services Group Inc. grew its stake in shares of Cloudflare by 13.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,132 shares of the company’s stock worth $594,000 after buying an additional 824 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after acquiring an additional 171 shares during the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Cloudflare by 7.4% during the first quarter. Banque Cantonale Vaudoise now owns 32,027 shares of the company’s stock valued at $3,101,000 after acquiring an additional 2,212 shares in the last quarter. Wedmont Private Capital purchased a new position in shares of Cloudflare in the 1st quarter worth about $255,000. Finally, RFG Advisory LLC boosted its stake in Cloudflare by 9.6% in the 1st quarter. RFG Advisory LLC now owns 7,306 shares of the company’s stock worth $707,000 after purchasing an additional 637 shares in the last quarter. 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.