Cloudflare (NYSE:NET) Price Target Raised to $125.00

Cloudflare (NYSE:NETFree Report) had its price objective hoisted by Wells Fargo & Company from $95.00 to $125.00 in a report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Royal Bank of Canada lowered their price target on Cloudflare from $70.00 to $65.00 and set an outperform rating for the company in a report on Friday, November 3rd. Sanford C. Bernstein began coverage on Cloudflare in a report on Thursday, January 18th. They issued a market perform rating and a $85.00 price target for the company. Capital One Financial began coverage on Cloudflare in a research note on Wednesday, January 17th. They set an equal weight rating and a $83.00 target price for the company. Piper Sandler lowered their target price on Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a research note on Friday, November 3rd. Finally, Oppenheimer upgraded Cloudflare from a market perform rating to an outperform rating in a research note on Tuesday, November 21st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $86.52.

Get Our Latest Stock Analysis on Cloudflare

Cloudflare Trading Down 2.1 %

NET stock opened at $105.64 on Friday. The company has a market cap of $35.47 billion, a price-to-earnings ratio of -192.07 and a beta of 1.10. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.83. The business has a fifty day simple moving average of $82.41 and a 200-day simple moving average of $70.57. Cloudflare has a 52 week low of $39.90 and a 52 week high of $116.00.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares in the company, valued at $40,351,461.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $71.22, for a total value of $3,730,788.48. Following the completion of the transaction, the chief executive officer now owns 269,047 shares of the company’s stock, valued at approximately $19,161,527.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 939,020 shares of company stock worth $74,143,110. 14.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new stake in shares of Cloudflare during the 1st quarter valued at $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. GAMMA Investing LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at $39,000. Providence Capital Advisors LLC lifted its stake in shares of Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Pingora Partners LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 73.14% of the company’s stock.

About Cloudflare

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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, secure origin connection, and rate limiting products.

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