Truist Financial Boosts Cloudflare (NYSE:NET) Price Target to $120.00

Cloudflare (NYSE:NETFree Report) had its price objective boosted by Truist Financial from $90.00 to $120.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein started coverage on shares of Cloudflare in a report on Thursday, January 18th. They set a market perform rating and a $85.00 price objective on the stock. JMP Securities raised their target price on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. Susquehanna lifted their target price on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a report on Friday. Oppenheimer raised Cloudflare from a market perform rating to an outperform rating in a research note on Tuesday, November 21st. Finally, KeyCorp raised their price objective on Cloudflare from $94.00 to $132.00 and gave the stock an overweight rating in a research report on Friday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of Hold and an average target price of $86.52.

View Our Latest Stock Analysis on NET

Cloudflare Price Performance

NYSE:NET opened at $105.64 on Friday. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of -192.07 and a beta of 1.10. 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. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00.

Insider Transactions at Cloudflare

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

Institutional Trading of Cloudflare

Several large investors have recently bought and sold shares of NET. RFG Advisory LLC boosted its position in shares of Cloudflare by 51.2% in the 2nd quarter. RFG Advisory LLC now owns 5,791 shares of the company’s stock worth $379,000 after purchasing an additional 1,962 shares in the last quarter. Blueshift Asset Management LLC boosted its holdings in shares of Cloudflare by 100.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Cloudflare by 377.1% during the 3rd quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock valued at $1,749,000 after buying an additional 21,930 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Cloudflare by 4.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 299,483 shares of the company’s stock valued at $19,577,000 after buying an additional 11,600 shares in the last quarter. Finally, Van Hulzen Asset Management LLC raised its position in Cloudflare by 205.2% in the 3rd quarter. Van Hulzen Asset Management LLC now owns 13,784 shares of the company’s stock worth $869,000 after purchasing an additional 9,268 shares during the period. 73.14% of the stock is owned by 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.

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