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

Cloudflare (NYSE:NETFree Report) had its price target upped by Mizuho from $73.00 to $105.00 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on NET. Cantor Fitzgerald reiterated a neutral rating and issued a $100.00 price target (up previously from $70.00) on shares of Cloudflare in a report on Friday. Piper Sandler dropped their target price on Cloudflare from $64.00 to $60.00 and set a neutral rating on the stock in a research report on Friday, November 3rd. KeyCorp boosted their price target on Cloudflare from $70.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, January 18th. Susquehanna boosted their target price on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a report on Friday. Finally, Sanford C. Bernstein began coverage on Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 target price for the company. Four investment 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. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $85.13.

Check Out Our Latest Analysis on Cloudflare

Cloudflare Stock Up 19.5 %

NET opened at $107.92 on Friday. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. 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 has a market cap of $36.24 billion, a P/E ratio of -196.21 and a beta of 1.10. The business has a 50 day moving average price of $81.90 and a 200 day moving average price of $70.28.

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 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 $19,161,527.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Matthew Prince sold 52,384 shares of the business’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 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 $19,161,527.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Ledbetter sold 66,384 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92. Following the transaction, the director now directly owns 1,472,932 shares in the company, valued at $127,968,332.16. The disclosure for this sale can be found here. Insiders sold 889,020 shares of company stock valued at $68,637,610 over the last 90 days. Corporate insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased its position in shares of Cloudflare by 6.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock worth $5,808,000 after purchasing an additional 4,300 shares in the last quarter. Sepio Capital LP grew its holdings in shares of Cloudflare by 4.9% during the fourth quarter. Sepio Capital LP now owns 25,610 shares of the company’s stock valued at $2,132,000 after buying an additional 1,186 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Cloudflare during the fourth quarter valued at $182,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Cloudflare by 5.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock valued at $5,478,000 after buying an additional 3,164 shares during the last quarter. Finally, Balboa Wealth Partners purchased a new stake in shares of Cloudflare during the fourth quarter valued at $211,000. 73.14% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

(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.

See Also

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.