Cloudflare (NYSE:NET) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Cloudflare (NYSE:NET) had its target price increased by Morgan Stanley from $130.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on NET. Royal Bank of Canada lifted their price target on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Scotiabank upped their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Cantor Fitzgerald assumed coverage on shares of Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Finally, UBS Group boosted their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $108.32.

Cloudflare Stock Performance

Shares of NYSE NET opened at $123.89 on Tuesday. The company has a 50-day simple moving average of $109.35 and a 200-day simple moving average of $92.22. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $42.52 billion, a PE ratio of -476.49 and a beta of 1.10. Cloudflare has a 12 month low of $66.24 and a 12 month high of $124.64.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, equities analysts anticipate that Cloudflare will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Maria S. Eitel sold 6,875 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the transaction, the director now directly owns 5,927 shares in the company, valued at $521,576. This represents a 53.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 589,852 shares of company stock worth $63,169,052 in the last 90 days. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently bought and sold shares of the company. Hartline Investment Corp raised its stake in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Cloudflare during the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. lifted its stake in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the last quarter. National Pension Service boosted its holdings in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Cloudflare during the second quarter valued at $7,319,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.