Cloudflare, Inc. (NYSE:NET – Get Free Report)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $338.00 and last traded at $328.5670, with a volume of 4545834 shares traded. The stock had previously closed at $323.60.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $389.00 price target on shares of Cloudflare in a research report on Friday, August 7th. TD Cowen raised their price objective on Cloudflare from $300.00 to $355.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Royal Bank Of Canada lifted their target price on Cloudflare from $290.00 to $346.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $250.00 target price on shares of Cloudflare in a report on Monday, August 3rd. Finally, Oppenheimer increased their price target on Cloudflare from $330.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.85.
Check Out Our Latest Report on NET
Cloudflare Stock Up 4.5%
Cloudflare (NYSE:NET – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Sell-side analysts predict that Cloudflare, Inc. will post 0.03 EPS for the current year.
Insider Buying and Selling
In related news, CFO Thomas Seifert sold 10,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $307.32, for a total transaction of $3,073,200.00. Following the sale, the chief financial officer owned 110,846 shares of the company’s stock, valued at $34,065,192.72. This represents a 8.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $277.43, for a total transaction of $9,156,022.29. Following the completion of the transaction, the insider directly owned 69,775 shares in the company, valued at approximately $19,357,678.25. This represents a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 595,058 shares of company stock valued at $162,397,435 in the last quarter. Corporate insiders own 10.66% of the company’s stock.
Institutional Investors Weigh In On Cloudflare
Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. Geode Capital Management LLC increased its stake in shares of Cloudflare by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock valued at $1,184,044,000 after purchasing an additional 241,981 shares during the last quarter. Jennison Associates LLC raised its stake in Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after acquiring an additional 2,530,872 shares in the last quarter. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth about $718,316,000. Legal & General Group Plc lifted its holdings in shares of Cloudflare by 4.9% in the fourth quarter. Legal & General Group Plc now owns 2,824,772 shares of the company’s stock worth $556,904,000 after acquiring an additional 131,127 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Cloudflare by 2.0% in the first quarter. Amundi now owns 1,707,256 shares of the company’s stock worth $352,275,000 after acquiring an additional 32,804 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.
About Cloudflare
Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.
The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.
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