Cloudflare (NYSE:NET) Reaches New 12-Month High After Analyst Upgrade

Cloudflare, Inc. (NYSE:NET - Get Free Report)'s stock price reached a new 52-week high during mid-day 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. The stock had previously closed at $166.66.

Several other analysts have also commented on NET. Baird R W lowered Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. JMP Securities increased their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Susquehanna boosted their target price on Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group boosted their target price on Cloudflare from $130.00 to $165.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Four equities 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $135.28.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 528,970 shares of company stock valued at $59,959,801. Company insiders own 12.83% of the company's stock.

Institutional Trading of Cloudflare

Several hedge funds have recently added to or reduced their stakes in NET. Hartline Investment Corp grew its position in shares of Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock valued at $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare in the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 29,960 shares during the period. National Pension Service raised its holdings in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after acquiring an additional 4,062 shares during the period. Finally, Strategic Blueprint LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth $265,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Trading Down 3.1 %

The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business's fifty day moving average is $125.30 and its 200 day moving average is $100.14. The firm has a market capitalization of $58.68 billion, a price-to-earnings ratio of -777.19 and a beta of 1.12.

Cloudflare (NYSE:NET - Get Free Report) last posted 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts predict that Cloudflare, Inc. will post -0.04 earnings per share for the current 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.