Cloudflare (NYSE:NET) Price Target Increased to $115.00 by Analysts at Susquehanna

Cloudflare (NYSE:NETFree Report) had its target price increased by Susquehanna from $75.00 to $115.00 in a report released on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on NET. Needham & Company LLC lifted their price target on shares of Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a research report on Friday. Royal Bank of Canada decreased their price target on shares of Cloudflare from $70.00 to $65.00 and set an outperform rating on the stock in a research note on Friday, November 3rd. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 target price on the stock. Oppenheimer raised shares of Cloudflare from a market perform rating to an outperform rating in a research note on Tuesday, November 21st. Finally, Morgan Stanley raised their price target on shares of Cloudflare from $55.00 to $60.00 and gave the company an equal weight rating in a research note on Tuesday, November 7th. Four 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. According to MarketBeat, Cloudflare has an average rating of Hold and an average price target of $86.52.

View Our Latest Analysis on Cloudflare

Cloudflare Price Performance

Shares of NET stock opened at $105.64 on Friday. Cloudflare has a 52-week low of $39.90 and a 52-week high of $116.00. The stock has a market cap of $35.47 billion, a PE ratio of -192.07 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 firm’s 50 day moving average price is $82.41 and its two-hundred day moving average price is $70.57.

Insider Activity

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 269,047 shares in the company, valued at $19,161,527.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated 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 directly owns 269,047 shares of the company’s stock, valued at $19,161,527.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 16,901 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $72.13, for a total transaction of $1,219,069.13. Following the transaction, the chief financial officer now directly owns 243,495 shares in the company, valued at $17,563,294.35. The disclosure for this sale can be found here. Insiders sold 939,020 shares of company stock worth $74,143,110 over the last three months. 14.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cloudflare by 1.5% in the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after acquiring an additional 395,363 shares during the period. Capital World Investors raised its position in shares of Cloudflare by 56.7% in the second quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock valued at $1,727,949,000 after purchasing an additional 9,560,273 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the period. State Street Corp raised its position in shares of Cloudflare by 5.3% in the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after purchasing an additional 278,422 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Cloudflare by 4.1% in the second quarter. Geode Capital Management LLC now owns 3,953,754 shares of the company’s stock valued at $258,029,000 after purchasing an additional 156,172 shares during the period. 73.14% of the stock is owned by institutional investors.

Cloudflare Company Profile

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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.

Further Reading

Analyst Recommendations for Cloudflare (NYSE:NET)

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