Cloudflare (NYSE:NET) Given New $160.00 Price Target at Mizuho

Cloudflare (NYSE:NET) had its price target boosted by Mizuho from $130.00 to $160.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently weighed in on NET. Jefferies Financial Group boosted their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Truist Financial boosted their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. UBS Group boosted their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Cantor Fitzgerald upped their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, 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 note on Monday, January 27th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $135.28.

Cloudflare Stock Performance

NET stock opened at $172.78 on Monday. 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 company has a market capitalization of $59.30 billion, a price-to-earnings ratio of -785.36 and a beta of 1.12. Cloudflare has a 12 month low of $66.24 and a 12 month high of $176.73. The firm has a 50 day moving average of $122.83 and a two-hundred day moving average of $98.96.

Cloudflare (NYSE:NET) last issued 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%. As a group, equities analysts anticipate that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 581,354 shares of company stock valued at $64,625,120. 12.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the 3rd quarter valued at about $25,588,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 purchasing an additional 29,960 shares during the last quarter. National Pension Service boosted its stake in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC bought a new position in shares of Cloudflare in the 4th quarter valued at about $265,000. Institutional investors own 82.68% of the company’s stock.

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.