Mizuho Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET) had its target price increased by research analysts at Mizuho from $130.00 to $160.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential downside of 7.21% from the stock’s current price.

Several other research firms also recently issued reports on NET. Morgan Stanley lifted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JMP Securities upped their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group increased their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.28.

Cloudflare Price Performance

Shares of NYSE NET opened at $172.44 on Monday. The firm has a market capitalization of $59.18 billion, a P/E ratio of -783.81 and a beta of 1.12. The firm’s 50-day moving average price is $121.59 and its 200-day moving average price is $98.44. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 1-year low of $66.24 and a 1-year high of $176.73.

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

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on 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 directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. This trade represents a 21.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were 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 owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 581,354 shares of company stock valued at $64,625,120 in the last 90 days. Insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. increased its position 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 valued at $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. increased its holdings in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares during the period. Chicago Partners Investment Group LLC lifted 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 worth $293,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of 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 purchasing an additional 106 shares in the last quarter. Finally, Amalgamated Bank increased 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 worth $2,154,000 after purchasing an additional 107 shares during the period. 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.