Cloudflare (NYSE:NET) PT Raised to $105.00 at Mizuho

Cloudflare (NYSE:NETFree Report) had its price objective hoisted by Mizuho from $73.00 to $105.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler decreased their target price on shares of Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a research report on Friday, November 3rd. Morgan Stanley lifted their target price on shares of Cloudflare from $55.00 to $60.00 and gave the company an equal weight rating in a report on Tuesday, November 7th. KeyCorp increased their price target on shares of Cloudflare from $70.00 to $94.00 and gave the stock an overweight rating in a report on Thursday, January 18th. Truist Financial lifted their price objective on shares of Cloudflare from $80.00 to $90.00 and gave the company a buy rating in a report on Tuesday, January 16th. Finally, Wells Fargo & Company increased their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $86.52.

Check Out Our Latest Research Report on NET

Cloudflare Trading Down 2.1 %

NYSE NET opened at $105.64 on Friday. The company has a market capitalization of $35.47 billion, a PE ratio of -192.07 and a beta of 1.10. The company has a fifty day moving average of $82.41 and a 200 day moving average of $70.57. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 269,047 shares of the company’s stock, valued at $19,161,527.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 939,020 shares of company stock worth $74,143,110. Company insiders own 14.80% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Capital World Investors lifted its position in Cloudflare by 56.7% during the second quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock valued at $1,727,949,000 after buying an additional 9,560,273 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Cloudflare by 131,133.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after acquiring an additional 6,068,873 shares in the last quarter. Norges Bank purchased a new stake in Cloudflare during the 4th quarter worth $124,592,000. 1832 Asset Management L.P. increased its holdings in Cloudflare by 315.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after purchasing an additional 1,433,500 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Cloudflare by 215.1% in the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares during the period. Hedge funds and other institutional investors own 73.14% of the company’s stock.

Cloudflare Company Profile

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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.

Further Reading

Analyst Recommendations for Cloudflare (NYSE:NET)

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