Cloudflare (NYSE:NET) Stock Rating Upgraded by Mizuho

Cloudflare (NYSE:NET - Get Free Report) was upgraded by Mizuho from a "neutral" rating to an "outperform" rating in a report released on Wednesday, MarketBeat reports. The brokerage currently has a $135.00 target price on the stock. Mizuho's target price would suggest a potential upside of 32.81% from the company's previous close.

NET has been the subject of a number of other research reports. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, January 27th. UBS Group reduced their price objective on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird reissued a "neutral" rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Cloudflare has a consensus rating of "Hold" and an average price target of $134.84.

Cloudflare Trading Down 5.8 %

Shares of NYSE:NET traded down $6.25 during midday trading on Wednesday, reaching $101.65. 721,303 shares of the company's stock were exchanged, compared to its average volume of 3,172,711. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of -462.05 and a beta of 1.59. The firm's 50 day simple moving average is $126.73 and its two-hundred day simple moving average is $114.70. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. As a group, sell-side analysts forecast that Cloudflare will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 31,136 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total value of $3,739,433.60. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,369,566.90. This trade represents a 10.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 579,389 shares of company stock valued at $74,559,343. Insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. NBC Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC boosted its position in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the fourth quarter worth about $43,000. Finally, Global Financial Private Client LLC increased its holdings in Cloudflare by 38,100.0% in the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after buying an additional 381 shares in the last quarter. 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.