By otakuyassine3@gmail.com 
Cloudflare, Inc. (NYSE:NET – Get Free Report)’s share price reached a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $130.00 to $160.00. Mizuho currently has a neutral rating on the stock. Cloudflare traded as high as $176.73 and last traded at $172.40, with a volume of 6845107 shares changing hands. The stock had previously closed at $166.66.
NET has been the subject of a number of other research reports. Jefferies Financial Group upped their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Morgan Stanley upped their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Guggenheim upped their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Truist Financial lifted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $135.28.
Read Our Latest Research Report on NET
Insider Activity at Cloudflare
In related news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 581,354 shares of company stock worth $64,625,120 over the last 90 days. Company insiders own 12.83% of the company’s stock.
Hedge Funds Weigh In On Cloudflare
Hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. grew its holdings in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after acquiring an additional 77 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after acquiring an additional 105 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Cloudflare by 0.5% during the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Cloudflare by 0.5% in the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.
Cloudflare Stock Performance
The stock has a market capitalization of $59.18 billion, a PE ratio of -783.81 and a beta of 1.12. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s 50-day simple moving average is $121.59 and its two-hundred day simple moving average is $98.44.
Cloudflare (NYSE:NET – Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.
About Cloudflare
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.
Further Reading
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