Citizens Jmp Boosts Cloudflare (NYSE:NET) Price Target to $330.00

Key Points

• Citizens JMP raised Cloudflare’s price target from $270 to $330 while keeping a “market outperform” rating, implying about 17.9% upside from the previous close.
• Cloudflare’s shares were up 0.8% to $279.85 on Monday, near its 52-week high of $291, and the stock has drawn mostly positive analyst attention with an average “Moderate Buy” rating.
• The company recently beat quarterly estimates, posting $0.25 EPS on revenue of $639.75 million, while reporting 33.5% year-over-year revenue growth; however, insiders have also sold significant shares over the past 90 days.

Cloudflare (NYSE:NET - Get Free Report) had its price objective boosted by Citizens Jmp from $270.00 to $330.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 17.92% from the stock's previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus set a $260.00 price target on shares of Cloudflare in a research report on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cloudflare in a research report on Friday. Scotiabank raised Cloudflare from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, July 7th. Piper Sandler restated an "overweight" rating on shares of Cloudflare in a research report on Wednesday, June 10th. Finally, Truist Financial upped their price target on Cloudflare from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare has an average rating of "Moderate Buy" and an average target price of $256.74.

Cloudflare Trading Up 0.8%

Shares of NET traded up $2.19 during mid-day trading on Monday, reaching $279.85. The stock had a trading volume of 585,054 shares, compared to its average volume of 4,374,417. Cloudflare has a 52-week low of $158.83 and a 52-week high of $291.00. The firm has a market cap of $98.92 billion, a price-to-earnings ratio of -1,113.75, a P/E/G ratio of 283.00 and a beta of 1.67. The business's fifty day moving average is $236.36 and its 200 day moving average is $210.01. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $639.75 million for the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. Cloudflare's quarterly revenue was up 33.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, sell-side analysts predict that Cloudflare will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,422 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $249.09, for a total transaction of $13,057,795.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 35,080 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $213.98, for a total value of $7,506,418.40. Following the transaction, the insider owned 47,425 shares of the company's stock, valued at approximately $10,148,001.50. This represents a 42.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 590,544 shares of company stock valued at $132,719,009 in the last ninety days. 10.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of NET. Wiser Advisor Group LLC acquired a new position in Cloudflare in the 3rd quarter valued at about $26,000. HM Payson & Co. acquired a new stake in shares of Cloudflare during the fourth quarter worth about $25,000. CX Institutional boosted its stake in shares of Cloudflare by 49.4% in the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after purchasing an additional 44 shares during the period. Wexford Capital LP acquired a new position in shares of Cloudflare in the third quarter valued at approximately $30,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Cloudflare by 55.4% in the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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