Cloudflare (NYSE:NET) Price Target Raised to $165.00 at UBS Group

Cloudflare (NYSE:NET) had its price target raised by UBS Group from $130.00 to $165.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently commented on NET. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Piper Sandler boosted their price target on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC raised their target price on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Guggenheim upped their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday. Finally, The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and raised their target price for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.48.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $166.88 on Friday. The firm’s fifty day moving average is $117.55 and its 200-day moving average is $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 has a 52 week low of $66.24 and a 52 week high of $171.38.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. Research analysts forecast that Cloudflare will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s 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 transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the transaction, the chief executive officer now owns 192,177 shares of the company’s stock, valued at $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,738 shares of company stock valued at $69,632,506. 12.83% of the stock is currently owned by insiders.

Institutional Trading of Cloudflare

A number of large investors have recently made changes to their positions in the stock. CVA Family Office LLC lifted its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $38,000. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in Cloudflare in the third quarter worth about $54,000. Finally, Larson Financial Group LLC grew its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. 82.68% of the stock is 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.