Cloudflare (NYSE:NET) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Cloudflare (NYSE:NET) had its price objective raised by research analysts at Jefferies Financial Group from $100.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 10.92% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Scotiabank boosted their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $136.00 in a research report on Tuesday. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Finally, Mizuho raised their price target on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.81.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $112.69 on Thursday. The company has a 50 day moving average of $98.69 and a 200-day moving average of $86.41. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 1-year low of $66.24 and a 1-year high of $119.42. The company has a market cap of $38.67 billion, a PE ratio of -433.42 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities research analysts forecast that Cloudflare will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 64,100 shares of Cloudflare stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the completion of the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $15,681,643.20. The trade was a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at $22,284,303.57. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 629,592 shares of company stock worth $61,334,450 in the last quarter. 12.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently added to or reduced their stakes in NET. Baillie Gifford & Co. lifted its position in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Geode Capital Management LLC raised its stake in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares in the last quarter. Marshall Wace LLP grew its stake in Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the period. American Century Companies Inc. raised its holdings in Cloudflare by 24.8% in the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Cloudflare by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,251,670 shares of the company’s stock valued at $103,676,000 after buying an additional 35,884 shares during the period. Hedge funds and other institutional investors 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.