Cloudflare (NYSE:NET – Free Report) had its target price hoisted by Truist Financial from $90.00 to $120.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.
Several other research firms also recently weighed in on NET. Susquehanna lifted their price objective on Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a report on Friday. Mizuho boosted their target price on shares of Cloudflare from $73.00 to $105.00 and gave the stock a neutral rating in a report on Friday. Sanford C. Bernstein started coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a market perform rating and a $85.00 target price for the company. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a report on Friday. Finally, Piper Sandler reduced their target price on shares of Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a report on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $85.13.
View Our Latest Analysis on Cloudflare
Cloudflare Stock Performance
NET stock opened at $107.92 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. The business has a 50-day moving average price of $81.90 and a 200 day moving average price of $70.25. The company has a market capitalization of $36.24 billion, a P/E ratio of -196.21 and a beta of 1.10. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00.
Insider Activity at Cloudflare
In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $63.48, for a total value of $3,325,336.32. Following the sale, the chief executive officer now owns 269,047 shares in the company, valued at $17,079,103.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cloudflare news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the transaction, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $63.48, for a total value of $3,325,336.32. Following the completion of the transaction, the chief executive officer now directly owns 269,047 shares of the company’s stock, valued at $17,079,103.56. The disclosure for this sale can be found here. Insiders have sold a total of 941,404 shares of company stock worth $71,962,946 over the last quarter. Insiders own 14.80% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in Cloudflare in the fourth quarter valued at approximately $39,000. Sunbelt Securities Inc. acquired a new position in shares of Cloudflare during the 1st quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after buying an additional 514 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Cloudflare during the 3rd quarter worth approximately $38,000. 73.14% of the stock is owned by institutional investors and hedge funds.
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, secure origin connection, and rate limiting products.
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Source: defenseworld.net
