Susquehanna Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET - Get Free Report) had its price objective boosted by equities research analysts at Susquehanna from $95.00 to $170.00 in a research note issued on Monday, MarketBeat.com reports. The firm currently has a "neutral" rating on the stock. Susquehanna's price objective indicates a potential downside of 2.57% from the stock's current price.

A number of other brokerages have also weighed in on NET. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Robert W. Baird reissued a "neutral" rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Royal Bank of Canada lifted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Piper Sandler increased their price target on Cloudflare from $92.00 to $153.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $135.28.

Cloudflare Stock Up 1.0 %

Shares of NYSE NET traded up $1.66 during midday trading on Monday, hitting $174.49. The stock had a trading volume of 1,845,078 shares, compared to its average volume of 3,838,292. The company has a market cap of $59.88 billion, a P/E ratio of -791.82 and a beta of 1.12. 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 business's 50 day moving average is $122.83 and its 200-day moving average is $98.96. Cloudflare has a 52 week low of $66.24 and a 52 week high of $176.73.

Cloudflare (NYSE:NET - Get Free Report) last issued its 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts predict that Cloudflare will post -0.04 EPS for the current year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction 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 transaction, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company's stock, valued at $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 581,354 shares of company stock valued at $64,625,120 over the last 90 days. Company insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after buying an additional 68,661 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Cloudflare in the fourth quarter valued at $269,200,000. Norges Bank purchased a new position in shares of Cloudflare in the fourth quarter valued at $249,544,000. American Century Companies Inc. increased its position in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cloudflare by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock valued at $138,516,000 after purchasing an additional 23,641 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.