Cloudflare (NYSE:NET) Given New $170.00 Price Target at Royal Bank of Canada

Cloudflare (NYSE:NET) had its target price lifted by Royal Bank of Canada from $123.00 to $170.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on NET. Mizuho lifted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Scotiabank upped their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their target price on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, JMP Securities boosted 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. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $128.48.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $166.88 on Friday. The stock’s fifty day moving average is $117.55 and its 200 day moving average is $96.24. Cloudflare has a one year low of $66.24 and a one year high of $171.38. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts forecast that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NET. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter worth $38,000. Quarry LP lifted its stake in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC grew its stake in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.