Susquehanna Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its target price hoisted by Susquehanna from $95.00 to $170.00 in a research note released on Monday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Needham & Company LLC increased their target price on shares of Cloudflare from $110.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $135.28.

Cloudflare Trading Up 0.1 %

NYSE NET opened at $172.78 on Monday. The stock has a market capitalization of $59.30 billion, a P/E ratio of -785.36 and a beta of 1.12. Cloudflare has a 52-week low of $66.24 and a 52-week high of $176.73. The firm has a 50-day moving average price of $122.83 and a 200 day moving average price of $98.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

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 the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts expect that Cloudflare will post -0.04 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their position. The sale was disclosed in a document filed 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 on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction 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 trade represents a 16.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 581,354 shares of company stock worth $64,625,120 in the last quarter. 12.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

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

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.