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

Cloudflare (NYSE:NET) had its price objective upped by analysts at Mizuho from $130.00 to $160.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential downside of 8.22% from the company’s current price.

Several other research analysts have also commented on NET. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Truist Financial upped their price target on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.28.

Cloudflare Price Performance

NET traded up $7.66 on Monday, hitting $174.32. 4,238,312 shares of the company’s stock were exchanged, compared to its average volume of 3,821,073. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $176.73. The stock has a market cap of $59.83 billion, a price-to-earnings ratio of -791.67 and a beta of 1.12. The firm has a 50-day moving average price of $118.89 and a 200-day moving average price of $97.11. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,738 shares of company stock valued at $69,632,506. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Large investors have recently modified their holdings of the business. Picton Mahoney Asset Management boosted its holdings in Cloudflare by 39.3% in the fourth quarter. Picton Mahoney Asset Management now owns 108,017 shares of the company’s stock valued at $11,633,000 after purchasing an additional 30,481 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Cloudflare by 22.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 57,937 shares of the company’s stock valued at $6,239,000 after purchasing an additional 10,729 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Cloudflare by 0.9% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 60,968 shares of the company’s stock worth $6,647,000 after buying an additional 516 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Cloudflare by 30.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,649 shares of the company’s stock worth $393,000 after buying an additional 850 shares during the last quarter. Finally, Miller Financial Services LLC acquired a new stake in Cloudflare in the fourth quarter valued at $445,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Company Profile

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.