Jefferies Financial Group Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET - Get Free Report) had its price target upped by research analysts at Jefferies Financial Group from $100.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Jefferies Financial Group's target price indicates a potential upside of 15.12% from the company's current price.

NET has been the subject of several other research reports. Mizuho lifted their price target on Cloudflare from $102.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Scotiabank increased their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. BNP Paribas initiated coverage on Cloudflare in a research note on Tuesday, October 8th. They set an "underperform" rating and a $65.00 price target for the company. Finally, UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $97.81.

Cloudflare Price Performance

Shares of NET stock traded down $0.52 during trading hours on Thursday, hitting $108.58. The company's stock had a trading volume of 3,148,920 shares, compared to its average volume of 3,159,344. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a twelve month low of $66.24 and a twelve month high of $119.42. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of -417.62 and a beta of 1.10. The business has a fifty day moving average of $97.98 and a 200-day moving average of $85.94.

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

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $22,284,303.57. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $93.95, for a total value of $4,921,476.80. Following the completion of the sale, the chief executive officer now directly owns 10,761 shares in the company, valued at $1,010,995.95. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,824 shares of company stock worth $47,862,488 over the last ninety days. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

A number of large investors have recently modified their holdings of NET. Hartline Investment Corp grew its position in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock worth $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service raised its stake in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock valued at $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Cloudflare during the 2nd quarter worth $7,319,000. 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.