Cloudflare (NYSE:NET) Price Target Raised to $225.00 at Morgan Stanley

Cloudflare (NYSE:NET - Get Free Report) had its target price upped by Morgan Stanley from $150.00 to $225.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 23.74% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Wednesday, April 16th. Needham & Company LLC raised their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group cut their target price on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada decreased their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Finally, CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a research report on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $148.92.

Cloudflare Trading Down 6.0%

NYSE NET opened at $181.83 on Friday. The stock has a market cap of $63.02 billion, a price-to-earnings ratio of -790.57 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. Cloudflare has a twelve month low of $69.26 and a twelve month high of $198.01. The firm's 50 day moving average price is $168.30 and its two-hundred day moving average price is $140.02.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The firm had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period last year, the business earned $0.16 EPS. The business's revenue was up 26.5% on a year-over-year basis. Equities analysts anticipate that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $152.68, for a total value of $7,997,989.12. Following the transaction, the chief executive officer directly owned 10,426 shares of the company's stock, valued at approximately $1,591,841.68. This trade represents a 83.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michelle Zatlyn sold 35,098 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total value of $5,504,419.34. Following the sale, the insider owned 6,390 shares of the company's stock, valued at approximately $1,002,143.70. The trade was a 84.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 581,060 shares of company stock valued at $95,040,197 over the last 90 days. 10.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of the stock. Mather Group LLC. raised its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter valued at about $27,000. GPS Wealth Strategies Group LLC increased its stake in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Cloudflare in the 4th quarter valued at $43,000. Institutional investors own 82.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.