Mizuho Upgrades Cloudflare (NYSE:NET) to “Outperform”

Cloudflare (NYSE:NET) was upgraded by equities research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $135.00 price objective on the stock. Mizuho’s price target suggests a potential upside of 23.83% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Oppenheimer initiated coverage on Cloudflare in a report on Thursday, March 20th. They set an “outperform” rating and a $150.00 target price on the stock. Bank of America raised Cloudflare from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Royal Bank of Canada lowered their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Susquehanna lifted their price target on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $134.68.

Cloudflare Trading Up 1.8 %

NET stock opened at $109.02 on Wednesday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of -495.54 and a beta of 1.59. 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 business has a fifty day moving average price of $131.11 and a 200 day moving average price of $113.89.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Analysts expect that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 561,973 shares of company stock valued at $73,056,260 in the last quarter. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. purchased a new position in Cloudflare in the first quarter valued at about $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after purchasing an additional 142 shares during the period. Global Financial Private Client LLC raised its position in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after purchasing an additional 381 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare during the fourth quarter valued at $43,000. Institutional investors and hedge funds 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.