Cloudflare (NYSE:NET) Stock Price Expected to Rise, UBS Group Analyst Says

Cloudflare (NYSE:NET - Get Free Report) had its price target raised by UBS Group from $145.00 to $200.00 in a report released on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective would indicate a potential upside of 4.58% from the stock's current price.

A number of other research firms have also recently commented on NET. Mizuho boosted their price objective on Cloudflare from $155.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Oppenheimer reiterated an "outperform" rating and set a $200.00 price target (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. KeyCorp initiated coverage on Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 price target for the company. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Piper Sandler reiterated a "neutral" rating and set a $151.00 price target (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.52.

Cloudflare Stock Performance

Shares of Cloudflare stock traded up $2.09 on Thursday, reaching $191.24. 1,685,914 shares of the stock were exchanged, compared to its average volume of 3,709,980. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare has a twelve month low of $69.26 and a twelve month high of $200.76. The firm has a market capitalization of $66.29 billion, a price-to-earnings ratio of -831.57 and a beta of 1.85. The business has a 50 day moving average price of $178.49 and a two-hundred day moving average price of $144.89.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The firm's revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Analysts anticipate 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 the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $200.17, for a total value of $6,859,825.90. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $184.58, for a total value of $9,669,038.72. Following the completion of the sale, the chief executive officer owned 381,213 shares in the company, valued at $70,364,295.54. This represents a 12.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,332 shares of company stock worth $107,911,278. 10.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently bought and sold shares of NET. Proficio Capital Partners LLC purchased a new stake in Cloudflare during the 4th quarter worth about $100,000. Teacher Retirement System of Texas purchased a new stake in Cloudflare during the 4th quarter worth about $307,000. Sei Investments Co. increased its holdings in Cloudflare by 19.1% during the 4th quarter. Sei Investments Co. now owns 219,090 shares of the company's stock worth $23,592,000 after purchasing an additional 35,198 shares during the period. LPL Financial LLC increased its holdings in Cloudflare by 3.4% during the 4th quarter. LPL Financial LLC now owns 122,171 shares of the company's stock worth $13,155,000 after purchasing an additional 3,989 shares during the period. Finally, FineMark National Bank & Trust purchased a new stake in Cloudflare during the 4th quarter worth about $220,000. Hedge funds and other 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.

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