Mizuho Forecasts Strong Price Appreciation for Cloudflare (NYSE:NET) Stock

Cloudflare (NYSE:NET) had its price objective lifted by analysts at Mizuho from $102.00 to $125.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target points to a potential upside of 10.04% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. BNP Paribas initiated coverage on Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Piper Sandler raised their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.20.

Cloudflare Trading Down 1.1 %

NYSE:NET opened at $113.60 on Friday. The firm has a market capitalization of $38.99 billion, a P/E ratio of -436.92 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average of $96.10 and a 200 day moving average of $85.03. Cloudflare has a 52 week low of $66.24 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, research analysts predict that Cloudflare will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 64,100 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00. Following the completion of the sale, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $15,681,643.20. This trade represents a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 524,824 shares of company stock worth $49,037,888. 12.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of the business. Hartline Investment Corp lifted its stake in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after acquiring an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares during the period. National Pension Service grew its position in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Cloudflare during the 2nd quarter valued at $7,319,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.