Cloudflare (NYSE:NET) Price Target Raised to $153.00 at Piper Sandler

Cloudflare (NYSE:NET) had its price objective lifted by Piper Sandler from $92.00 to $153.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company upped their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho lifted their price target on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Cantor Fitzgerald started coverage on Cloudflare in a research report on Friday, January 17th. They set a “neutral” rating and a $111.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $128.48.

Cloudflare Price Performance

Cloudflare stock opened at $166.88 on Friday. Cloudflare has a 52-week low of $66.24 and a 52-week high of $171.38. The stock has a fifty day moving average price of $117.55 and a two-hundred day moving average price of $96.24. 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 (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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, equities research analysts anticipate that Cloudflare will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,738 shares of company stock valued at $69,632,506 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Institutional Trading of Cloudflare

A number of hedge funds have recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after acquiring an additional 77 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. increased its position in Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after buying an additional 106 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of Cloudflare by 0.5% during the fourth quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after purchasing an additional 107 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

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.