Cloudflare (NYSE:NET) Stock Price Expected to Rise, JMP Securities Analyst Says

Cloudflare (NYSE:NET) had its target price lifted by equities researchers at JMP Securities from $135.00 to $180.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 7.23% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada raised their price target on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Cantor Fitzgerald began coverage on Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 target price on the stock. Guggenheim lifted their price target on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Scotiabank lifted their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $121.96.

Cloudflare Trading Up 18.6 %

Cloudflare stock traded up $26.34 during trading hours on Friday, reaching $167.86. The company had a trading volume of 8,044,991 shares, compared to its average volume of 3,506,519. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a 12-month low of $66.24 and a 12-month high of $168.35. The firm has a market cap of $57.61 billion, a price-to-earnings ratio of -643.34 and a beta of 1.12. The company has a 50-day moving average price of $116.71 and a 200 day moving average price of $95.92.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities analysts forecast that Cloudflare will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 633,738 shares of company stock worth $69,632,506. 12.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the 3rd quarter worth approximately $38,000. Quarry LP lifted its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Finally, Larson Financial Group LLC raised its holdings in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. 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.