Cloudflare (NYSE:NET) Given New $90.00 Price Target at JPMorgan Chase & Co.

Cloudflare (NYSE:NETFree Report) had its target price increased by JPMorgan Chase & Co. from $53.00 to $90.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

NET has been the topic of a number of other reports. Oppenheimer upgraded Cloudflare from a market perform rating to an outperform rating in a research note on Tuesday, November 21st. Cantor Fitzgerald reiterated a neutral rating and set a $100.00 price objective (up from $70.00) on shares of Cloudflare in a research note on Friday. Needham & Company LLC boosted their price objective on Cloudflare from $110.00 to $135.00 and gave the company a buy rating in a research note on Friday. Truist Financial boosted their target price on Cloudflare from $80.00 to $90.00 and gave the stock a buy rating in a research report on Tuesday, January 16th. Finally, Mizuho upped their price objective on Cloudflare from $73.00 to $105.00 and gave the stock a neutral rating in a report on Friday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has an average rating of Hold and a consensus target price of $86.52.

Check Out Our Latest Stock Report on Cloudflare

Cloudflare Stock Performance

Shares of NET opened at $105.64 on Friday. The firm has a market cap of $35.47 billion, a PE ratio of -192.07 and a beta of 1.10. The stock’s fifty day moving average price is $82.41 and its two-hundred day moving average price is $70.57. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $71.22, for a total value 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 approximately $19,161,527.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $71.22, for a total value 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 approximately $19,161,527.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at $40,351,461.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 939,020 shares of company stock valued at $74,143,110. 14.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cloudflare

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Cloudflare during the fourth quarter worth $39,000. Sunbelt Securities Inc. purchased a new position in Cloudflare in the 1st quarter valued at about $29,000. Pingora Partners LLC purchased a new position in Cloudflare in the 4th quarter worth approximately $42,000. Massmutual Trust Co. FSB ADV lifted its stake 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 purchasing an additional 514 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares during the last quarter. Institutional investors own 73.14% of the company’s stock.

Cloudflare Company Profile

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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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