Mizuho Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET - Free Report) had its price objective lifted by Mizuho from $102.00 to $125.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. BNP Paribas started coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price target on the stock. Morgan Stanley raised Cloudflare from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Piper Sandler upped their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Scotiabank increased their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has an average rating of "Hold" and an average target price of $95.20.

Cloudflare Price Performance

NET traded down $1.29 on Friday, hitting $113.60. 1,911,489 shares of the company's stock traded hands, compared to its average volume of 3,157,155. Cloudflare has a one year low of $66.24 and a one year high of $116.00. 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 has a market cap of $38.99 billion, a price-to-earnings ratio of -441.75 and a beta of 1.10. The company's 50 day simple moving average is $95.50 and its 200-day simple moving average is $84.68.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, research analysts anticipate that Cloudflare will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares in the company, valued at approximately $22,050,739.08. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the transaction, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 524,824 shares of company stock worth $49,037,888. 12.83% of the stock is currently owned by company insiders.

Institutional Trading of Cloudflare

A number of institutional investors have recently modified their holdings of NET. CVA Family Office LLC lifted its position in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock valued at $25,000 after acquiring an additional 171 shares during the last quarter. Quarry LP increased its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth $54,000. Finally, Blue Trust Inc. grew its stake in Cloudflare by 37,600.0% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company's stock worth $62,000 after buying an additional 752 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.