Mizuho Raises Cloudflare (NYSE:NET) Price Target to $105.00

Cloudflare (NYSE:NETFree Report) had its price target boosted by Mizuho from $73.00 to $105.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Capital One Financial assumed coverage on shares of Cloudflare in a report on Wednesday, January 17th. They set an equal weight rating and a $83.00 target price on the stock. JMP Securities boosted their target price on shares of Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Royal Bank of Canada reduced their price objective on shares of Cloudflare from $70.00 to $65.00 and set an outperform rating for the company in a research note on Friday, November 3rd. Piper Sandler reduced their price objective on shares of Cloudflare from $64.00 to $60.00 and set a neutral rating for the company in a research note on Friday, November 3rd. Finally, KeyCorp boosted their price objective on shares of Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a research note on Thursday, January 18th. Four equities 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $86.52.

View Our Latest Report on NET

Cloudflare Price Performance

NET opened at $105.64 on Friday. The firm has a market cap of $35.47 billion, a P/E ratio of -192.07 and a beta of 1.10. The firm has a 50-day moving average of $82.41 and a 200 day moving average of $70.57. The company has a debt-to-equity ratio of 1.83, a quick ratio of 3.89 and a current ratio of 3.89. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $71.22, for a total transaction of $3,730,788.48. Following the transaction, 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 is accessible through this link. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $71.22, for a total transaction of $3,730,788.48. Following the completion of the sale, the chief executive officer now owns 269,047 shares of the company’s stock, valued at $19,161,527.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 939,020 shares of company stock worth $74,143,110. 14.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NET. Capital World Investors grew its holdings in Cloudflare by 56.7% in the 2nd quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock worth $1,727,949,000 after buying an additional 9,560,273 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after acquiring an additional 6,068,873 shares during the period. Norges Bank acquired a new stake in shares of Cloudflare in the 4th quarter worth approximately $124,592,000. 1832 Asset Management L.P. lifted its stake in shares of Cloudflare by 315.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock worth $116,439,000 after acquiring an additional 1,433,500 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Cloudflare by 215.1% in the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock worth $82,927,000 after acquiring an additional 918,096 shares during the period. 73.14% of the stock is owned by institutional investors.

Cloudflare Company Profile

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Cloudflare (NYSE:NET)

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.