JMP Securities Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its price objective increased by JMP Securities from $135.00 to $180.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other analysts have also commented on the company. Royal Bank of Canada increased their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. UBS Group lifted their price target on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler upped their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday. Stifel Nicolaus boosted their price target on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $128.48.

Cloudflare Price Performance

Shares of NET opened at $166.88 on Friday. Cloudflare has a twelve month low of $66.24 and a twelve month high of $171.38. The firm’s 50-day moving average is $117.55 and its two-hundred day moving average is $96.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts expect that Cloudflare will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $18,212,582.70. This trade represents a 16.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,738 shares of company stock worth $69,632,506 in the last 90 days. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently made changes to their positions in NET. CVA Family Office LLC boosted its holdings in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Cloudflare during the 3rd quarter valued at about $38,000. Quarry LP raised its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC acquired a new stake in Cloudflare during the third quarter worth about $54,000. Finally, Larson Financial Group LLC lifted its holdings in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.