Cloudflare (NYSE:NET) Raised to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Cloudflare (NYSE:NET - Free Report) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have $136.00 target price on the stock, up from their previous target price of $95.00.

NET has been the subject of a number of other research reports. UBS Group lifted their price target on Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Mizuho boosted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday. Scotiabank upped their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective for the company. Finally, Wells Fargo & Company upped their price target on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $96.77.

Cloudflare Stock Up 2.5 %

Shares of NYSE:NET traded up $2.91 on Tuesday, reaching $117.56. The company had a trading volume of 3,869,946 shares, compared to its average volume of 3,156,135. Cloudflare has a twelve month low of $66.24 and a twelve month high of $119.42. 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 stock has a market capitalization of $40.35 billion, a P/E ratio of -454.00 and a beta of 1.10. The stock has a 50-day moving average price of $96.78 and a 200 day moving average price of $85.43.

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

Insider Buying and Selling at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company's stock, valued at approximately $19,572,040.44. This represents a 12.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total value of $1,175,400.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $22,050,739.08. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,824 shares of company stock valued at $49,037,888 in the last ninety days. 12.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 752 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Cloudflare during the second quarter worth about $320,000. Private Advisory Group LLC boosted its stake in Cloudflare by 18.7% in the 2nd quarter. Private Advisory Group LLC now owns 32,680 shares of the company's stock worth $2,707,000 after buying an additional 5,137 shares during the last quarter. Advisory Resource Group lifted its stake in shares of Cloudflare by 57.6% in the 2nd quarter. Advisory Resource Group now owns 12,416 shares of the company's stock valued at $1,028,000 after purchasing an additional 4,536 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company's stock valued at $2,710,419,000 after buying an additional 2,575,396 shares during the period. 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.