Mizuho Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET) had its target price increased by Mizuho from $102.00 to $125.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Scotiabank boosted their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Piper Sandler raised their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. UBS Group upped their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cloudflare currently has an average rating of “Hold” and an average price target of $95.20.

Cloudflare Price Performance

Shares of NYSE NET opened at $113.60 on Friday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a market cap of $38.99 billion, a PE ratio of -436.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a 50-day simple moving average of $96.10 and a two-hundred day simple moving average of $85.10.

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

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $78.36, for a total value of $1,175,400.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $22,050,739.08. This trade represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at $16,425,199.60. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,824 shares of company stock valued at $49,037,888 in the last three months. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of the business. CVA Family Office LLC grew its stake in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare in the third quarter valued at approximately $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $54,000. Finally, Blue Trust Inc. lifted its position in Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 752 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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, script management, security center, and rate limiting products.