Cloudflare (NYSE:NET) Given New $318.00 Price Target at Citigroup

Cloudflare (NYSE:NET) had its target price hoisted by analysts at Citigroup from $255.00 to $318.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 27.45% from the stock’s current price.

NET has been the topic of several other reports. Jefferies Financial Group started coverage on Cloudflare in a research report on Friday. They issued a “hold” rating and a $250.00 price objective on the stock. Morgan Stanley increased their target price on Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Royal Bank Of Canada increased their target price on Cloudflare from $250.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus increased their target price on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC increased their target price on Cloudflare from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Cloudflare Stock Performance

Shares of Cloudflare stock traded down $3.80 during trading hours on Monday, hitting $249.50. 2,811,607 shares of the company were exchanged, compared to its average volume of 3,323,758. Cloudflare has a 1 year low of $85.60 and a 1 year high of $260.00. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average of $217.57 and a 200-day moving average of $187.93. The stock has a market capitalization of $86.95 billion, a price-to-earnings ratio of -832.82 and a beta of 1.99.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $544.87 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Cloudflare’s quarterly revenue was up 30.7% on a year-over-year basis. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. As a group, analysts expect that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of Cloudflare stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the sale, the chief financial officer directly owned 189,517 shares of the company’s stock, valued at approximately $36,129,520.88. The trade was a 17.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 631,540 shares of company stock worth $131,564,497. 10.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealthedge Investment Advisors LLC grew its stake in shares of Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock valued at $1,367,000 after purchasing an additional 4,755 shares during the period. American Century Companies Inc. grew its stake in shares of Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after purchasing an additional 779,819 shares during the period. Motley Fool Asset Management LLC grew its stake in shares of Cloudflare by 10.5% in the 2nd quarter. Motley Fool Asset Management LLC now owns 17,752 shares of the company’s stock valued at $3,476,000 after purchasing an additional 1,691 shares during the period. Independent Solutions Wealth Management LLC grew its stake in shares of Cloudflare by 293.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock valued at $2,949,000 after purchasing an additional 11,230 shares during the period. Finally, Castle Rock Wealth Management LLC boosted its holdings in shares of Cloudflare by 10.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after acquiring an additional 1,229 shares in the last quarter. 82.68% of the stock is currently owned by 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.