Cloudflare (NYSE:NET) Price Target Raised to $160.00 at Mizuho

Cloudflare (NYSE:NET - Get Free Report) had its target price raised by equities researchers at Mizuho from $130.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price objective indicates a potential downside of 8.31% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Susquehanna lifted their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, January 21st. UBS Group increased their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Oppenheimer cut Cloudflare from an "outperform" rating to a "market perform" rating in a report on Friday, February 7th. Finally, Stifel Nicolaus increased their price target on Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $135.28.

Cloudflare Price Performance

Cloudflare stock traded up $1.68 during mid-day trading on Monday, hitting $174.51. The stock had a trading volume of 1,870,455 shares, compared to its average volume of 3,838,292. Cloudflare has a one year low of $66.24 and a one year high of $176.73. 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 capitalization of $59.89 billion, a P/E ratio of -793.11 and a beta of 1.12. The firm's 50 day moving average is $122.83 and its 200 day moving average is $98.96.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, sell-side analysts forecast that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Douglas James Kramer sold 2,481 shares of the company'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 value of $326,648.46. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of Cloudflare stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 581,354 shares of company stock valued at $64,625,120. Corporate insiders own 12.83% of the company's stock.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the third quarter worth $38,000. Quarry LP increased its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Cloudflare during the 3rd quarter valued at $54,000. Finally, Larson Financial Group LLC boosted its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares in the last quarter. Institutional investors 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.