Cloudflare (NYSE:NET) PT Raised to $108.00

Cloudflare (NYSE:NETFree Report) had its price objective hoisted by Royal Bank of Canada from $95.00 to $108.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also recently commented on NET. Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a research note on Friday. Sanford C. Bernstein started coverage on Cloudflare in a research note on Thursday, January 18th. They issued a market perform rating and a $85.00 target price on the stock. KeyCorp upped their price objective on Cloudflare from $70.00 to $94.00 and gave the company an overweight rating in a research report on Thursday, January 18th. Wells Fargo & Company upped their price objective on Cloudflare from $95.00 to $125.00 and gave the company an overweight rating in a research report on Friday. Finally, JMP Securities upped their price objective on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $86.52.

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Cloudflare Price Performance

Shares of NYSE:NET opened at $105.64 on Friday. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.83. 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’s fifty day moving average is $82.41 and its 200 day moving average is $70.57.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $71.22, for a total value of $3,730,788.48. Following the completion of the transaction, the chief executive officer now owns 269,047 shares of the company’s stock, valued at approximately $19,161,527.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $71.22, for a total value of $3,730,788.48. Following the sale, 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 SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 939,020 shares of company stock valued at $74,143,110. Insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the business. Yousif Capital Management LLC increased its stake in Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares in the last quarter. Quent Capital LLC grew its stake in Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. CWM LLC grew its stake in Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after purchasing an additional 153 shares in the last quarter. Finally, RFG Advisory LLC grew its stake in Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 73.14% of the company’s stock.

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.

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