Cloudflare (NYSE:NET - Get Free Report) had its price objective raised by Piper Sandler from $151.00 to $224.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 7.92% from the stock's current price.
Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Cloudflare from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday. Needham & Company LLC increased their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird raised their target price on shares of Cloudflare from $148.00 to $175.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Guggenheim lifted their target price on shares of Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a report on Friday, May 9th. Finally, Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $171.44.
Check Out Our Latest Analysis on Cloudflare
Cloudflare Trading Up 3.3%
NET opened at $207.57 on Friday. The business has a fifty day moving average price of $182.66 and a 200 day moving average price of $147.77. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. Cloudflare has a 12 month low of $69.26 and a 12 month high of $210.98. The stock has a market capitalization of $71.95 billion, a price-to-earnings ratio of -902.48 and a beta of 1.85.
Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The company had revenue of $512.32 million during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm's quarterly revenue was up 27.8% on a year-over-year basis. Sell-side analysts expect that Cloudflare will post -0.11 earnings per share for the current fiscal year.
Insider Transactions at Cloudflare
In related news, CFO Thomas J. Seifert sold 34,270 shares of Cloudflare stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total transaction of $6,859,825.90. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at approximately $48,351,063.50. The trade was a 12.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 59,130 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the sale, the chief financial officer owned 241,550 shares of the company's stock, valued at approximately $48,382,465. This trade represents a 19.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 688,062 shares of company stock valued at $121,498,887 in the last quarter. Insiders own 10.89% of the company's stock.
Institutional Trading of Cloudflare
A number of hedge funds and other institutional investors have recently modified their holdings of NET. GAMMA Investing LLC increased its position in shares of Cloudflare by 86.8% in the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after purchasing an additional 508 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company's stock worth $297,000 after purchasing an additional 230 shares in the last quarter. Amalgamated Bank increased its holdings in Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock valued at $2,412,000 after buying an additional 1,400 shares during the last quarter. Wellington Management Group LLP raised its stake in Cloudflare by 47.0% during the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock valued at $639,000 after buying an additional 1,896 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after buying an additional 98 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.
Cloudflare Company Profile
(
Get Free Report)
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.
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