Cloudflare (NYSE:NET) Given New $149.00 Price Target at Cantor Fitzgerald

Cloudflare (NYSE:NET) had its price target raised by Cantor Fitzgerald from $111.00 to $149.00 in a research note published on Friday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the stock.

Several other equities analysts also recently commented on NET. Scotiabank upped their price objective 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. Morgan Stanley upped their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. UBS Group raised their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial upped their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average price target of $128.48.

Cloudflare Stock Performance

Shares of NYSE NET opened at $166.88 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a 50 day moving average price of $118.89 and a 200 day moving average price of $97.11. The stock has a market capitalization of $57.27 billion, a PE ratio of -758.52 and a beta of 1.12. Cloudflare has a 52 week low of $66.24 and a 52 week high of $171.38.

Cloudflare (NYSE:NET) last announced 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 net margin of 4.72% and a negative return on equity of 5.52%. Analysts predict that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $18,370,199.43. This represents a 21.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $105.30, for a total value of $3,697,925.40. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $18,212,582.70. This represents a 16.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 633,738 shares of company stock valued at $69,632,506. 12.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cloudflare by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after acquiring an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cloudflare by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after purchasing an additional 63,945 shares in the last quarter. Swiss National Bank raised its position in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after purchasing an additional 10,100 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after purchasing an additional 2,483 shares in the last quarter. 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.