Cloudflare (NYSE:NET) Price Target Raised to $132.00

Cloudflare (NYSE:NETFree Report) had its price target lifted by KeyCorp from $94.00 to $132.00 in a research note released on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the stock.

NET has been the topic of a number of other reports. Wells Fargo & Company lifted their target price on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a report on Friday. Susquehanna raised their target price on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a research report on Friday. Oppenheimer raised Cloudflare from a market perform rating to an outperform rating in a research report on Tuesday, November 21st. Mizuho raised their target price on Cloudflare from $73.00 to $105.00 and gave the stock a neutral rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $100.00 target price (up previously from $70.00) on shares of Cloudflare in a research report on Friday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has an average rating of Hold and a consensus price target of $85.13.

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Cloudflare Stock Performance

Shares of NYSE NET opened at $107.92 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. The stock has a market capitalization of $36.24 billion, a price-to-earnings ratio of -196.21 and a beta of 1.10. The stock’s fifty day simple moving average is $81.90 and its 200 day simple moving average is $70.28. Cloudflare has a 52-week low of $39.90 and a 52-week high of $116.00.

Insider Buying and Selling at Cloudflare

In other Cloudflare 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 transaction of $3,730,788.48. Following the completion of the transaction, the chief executive officer now directly owns 269,047 shares in the company, valued at $19,161,527.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Thomas J. Seifert sold 16,901 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $72.13, for a total value of $1,219,069.13. Following the sale, the chief financial officer now owns 243,495 shares in the company, valued at approximately $17,563,294.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $71.22, for a total transaction of $3,730,788.48. Following the transaction, the chief executive officer now directly owns 269,047 shares of the company’s stock, valued at $19,161,527.34. The disclosure for this sale can be found here. Insiders sold a total of 889,020 shares of company stock worth $68,637,610 over the last three months. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Cloudflare during the 4th quarter valued at $39,000. Sunbelt Securities Inc. bought a new stake in Cloudflare in the 1st quarter worth $29,000. Massmutual Trust Co. FSB ADV grew its holdings in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after acquiring an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after purchasing an additional 296 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in Cloudflare during the third quarter worth about $38,000. 73.14% of the stock is owned by institutional investors.

About Cloudflare

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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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Analyst Recommendations for Cloudflare (NYSE:NET)

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