Cloudflare (NYSE:NET) Price Target Raised to $115.00

Cloudflare (NYSE:NETFree Report) had its price target boosted by Susquehanna from $75.00 to $115.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a neutral rating on the stock.

NET has been the topic of several other research reports. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a research report on Friday. JMP Securities upped their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. KeyCorp upped their price objective on shares of Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a report on Thursday, January 18th. Capital One Financial initiated coverage on shares of Cloudflare in a report on Wednesday, January 17th. They issued an equal weight rating and a $83.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of Cloudflare from $70.00 to $65.00 and set an outperform rating on the stock in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cloudflare has a consensus rating of Hold and a consensus target price of $86.52.

View Our Latest Analysis on NET

Cloudflare Stock Down 2.1 %

NYSE:NET opened at $105.64 on Friday. The company has a market cap of $35.47 billion, a PE ratio of -192.07 and a beta of 1.10. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.83. The company’s 50 day moving average is $82.41 and its two-hundred day moving average is $70.57.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas J. Seifert sold 16,901 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $72.13, for a total transaction of $1,219,069.13. Following the sale, the chief financial officer now directly owns 243,495 shares in the company, valued at approximately $17,563,294.35. The disclosure for this sale can be found here. Insiders sold 939,020 shares of company stock valued at $74,143,110 over the last 90 days. 14.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new position in shares of Cloudflare during the first quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd purchased a new position in Cloudflare in the 3rd quarter valued at $38,000. GAMMA Investing LLC purchased a new position in Cloudflare in the 4th quarter valued at $39,000. Providence Capital Advisors LLC grew its position in Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after buying an additional 2,426 shares during the last quarter. Finally, Pingora Partners LLC purchased a new position in Cloudflare in the 4th quarter valued at $42,000. 73.14% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Company Profile

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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, secure origin connection, and rate limiting products.

Further Reading

Analyst Recommendations for Cloudflare (NYSE:NET)

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