Cloudflare (NYSE:NET) Price Target Raised to $314.00 at BTIG Research

Key Points

• BTIG Research raised its price target on Cloudflare to $314 from $269 and kept a buy rating, implying about 13.75% upside from the prior close.
• Several other analysts recently turned more positive on NET, with firms like Barclays, Truist, UBS, and Citigroup lifting targets or upgrading ratings. MarketBeat says the stock still carries a Moderate Buy consensus with an average target price of $245.96.
• Cloudflare reported stronger-than-expected quarterly results, including $0.25 EPS versus $0.23 expected and $639.75 million in revenue, up 33.5% year over year. The stock was trading around $276, near its 52-week high, while insiders recently sold shares and institutional ownership remained high.

Cloudflare (NYSE:NET - Get Free Report) had its price objective raised by analysts at BTIG Research from $269.00 to $314.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 13.75% from the stock's previous close.

Several other equities analysts have also recently issued reports on NET. Barclays reiterated an "overweight" rating and set a $250.00 price target on shares of Cloudflare in a research report on Monday, June 1st. Truist Financial lifted their price target on shares of Cloudflare from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Susquehanna lifted their target price on Cloudflare from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. UBS Group boosted their price objective on Cloudflare from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, June 10th. Finally, Citigroup upgraded shares of Cloudflare from a "market outperform" rating to a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $245.96.

Cloudflare Trading Up 1.0%

Shares of NET stock opened at $276.04 on Friday. Cloudflare has a 1 year low of $158.83 and a 1 year high of $278.88. The firm has a market capitalization of $97.57 billion, a PE ratio of -1,104.16, a price-to-earnings-growth ratio of 275.35 and a beta of 1.67. The stock has a fifty day moving average of $230.76 and a two-hundred day moving average of $206.97. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The business had revenue of $639.75 million for the quarter, compared to analysts' expectations of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company's revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the business 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. As a group, research analysts expect that Cloudflare will post 0.02 EPS for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $247.28, for a total value of $623,145.60. Following the completion of the sale, the director directly owned 494,909 shares of the company's stock, valued at $122,381,097.52. This represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark J. Hawkins sold 133 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $249.00, for a total transaction of $33,117.00. Following the transaction, the director owned 10,765 shares in the company, valued at approximately $2,680,485. The trade was a 1.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 626,185 shares of company stock worth $139,810,855. Insiders own 10.66% of the company's stock.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. Empowered Funds LLC raised its holdings in Cloudflare by 34.2% in the 1st quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock valued at $750,000 after acquiring an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Cloudflare in the 2nd quarter worth approximately $424,000. Cerity Partners LLC grew its holdings in shares of Cloudflare by 30.1% during the 2nd quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock worth $5,391,000 after purchasing an additional 6,363 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cloudflare by 40.1% during the 2nd quarter. Sei Investments Co. now owns 329,036 shares of the company's stock worth $64,432,000 after purchasing an additional 94,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Cloudflare by 14.6% during the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock valued at $3,224,000 after purchasing an additional 2,093 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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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