Wells Fargo & Company Issues Positive Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its price objective raised by Wells Fargo & Company from $270.00 to $300.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Citigroup restated a “market outperform” rating on shares of Cloudflare in a report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $230.00 price objective (up from $224.00) on shares of Cloudflare in a report on Wednesday, June 10th. Mizuho boosted their target price on Cloudflare from $260.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Needham & Company LLC boosted their target price on Cloudflare from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, KeyCorp reissued an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and a consensus price target of $256.74.

Cloudflare Stock Down 1.9%

NET stock opened at $272.27 on Monday. The company has a market cap of $96.24 billion, a P/E ratio of -1,089.08, a P/E/G ratio of 283.00 and a beta of 1.67. Cloudflare has a 52 week low of $158.83 and a 52 week high of $291.00. The company’s 50-day moving average price is $237.94 and its 200 day moving average price is $210.52. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The company had revenue of $639.75 million for the quarter, compared to analyst estimates of $620.83 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 33.5% compared to the same quarter last year. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, research analysts expect that Cloudflare will post 0.02 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 35,080 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $213.98, for a total value of $7,506,418.40. Following the sale, the insider owned 47,425 shares of the company’s stock, valued at approximately $10,148,001.50. This represents a 42.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew Prince sold 52,422 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 590,544 shares of company stock valued at $132,719,009 over the last 90 days. Insiders own 10.66% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Cloudflare in the fourth quarter valued at approximately $718,316,000. 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 purchasing an additional 2,530,872 shares during the period. Corient Private Wealth LLC raised its stake in Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after purchasing an additional 1,365,598 shares during the period. Swedbank AB boosted its holdings in shares of Cloudflare by 697.5% in the 1st quarter. Swedbank AB now owns 927,606 shares of the company’s stock valued at $191,402,000 after purchasing an additional 811,297 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cloudflare by 25.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,639,661 shares of the company’s stock valued at $323,259,000 after purchasing an additional 336,768 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.