Cloudflare (NYSE:NET – Get Free Report) had its target price upped by research analysts at Truist Financial from $90.00 to $120.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 11.19% from the company’s previous close.
NET has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC upped their target price on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday. Capital One Financial started coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Royal Bank of Canada upped their target price on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JMP Securities upped their target price on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $85.13.
Get Our Latest Analysis on NET
Cloudflare Price Performance
Shares of NET stock opened at $107.92 on Friday. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The firm has a market capitalization of $36.24 billion, a price-to-earnings ratio of -196.21 and a beta of 1.10. The company has a debt-to-equity ratio of 1.83, a quick ratio of 3.89 and a current ratio of 3.89. The stock’s 50-day simple moving average is $81.90 and its 200-day simple moving average is $70.25.
Insider Activity at Cloudflare
In related news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $63.48, for a total transaction of $3,325,336.32. Following the completion of the transaction, the chief executive officer now directly owns 269,047 shares in the company, valued at approximately $17,079,103.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 941,404 shares of company stock valued at $71,962,946. 14.80% of the stock is owned by insiders.
Hedge Funds Weigh In On Cloudflare
A number of hedge funds have recently modified their holdings of NET. Sunbelt Securities Inc. purchased a new position in Cloudflare during the 1st quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new position in Cloudflare during the 3rd quarter valued at about $38,000. GAMMA Investing LLC purchased a new position in Cloudflare during the 4th quarter valued at about $39,000. Providence Capital Advisors LLC boosted its holdings in Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after acquiring an additional 514 shares during the period. 73.14% of the stock is currently owned by hedge funds and other institutional investors.
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, secure origin connection, and rate limiting products.
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Source: defenseworld.net
