In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Cloudflare (NET), with a price target of $55.00. The company’s shares closed last Tuesday at $37.81.
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 21.4% and a 71.6% success rate. Eyal covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Nuance Communications, and Ping Identity Holding.
Currently, the analyst consensus on Cloudflare is a Strong Buy with an average price target of $47.25, representing a 28.2% upside. In a report issued on July 28, Jefferies also upgraded the stock to Buy with a $50.00 price target.
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Based on Cloudflare’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $91.25 million and GAAP net loss of $32.75 million. In comparison, last year the company earned revenue of $67.42 million and had a GAAP net loss of $19.71 million.
Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NET in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cloudflare, Inc. engages in the provision of cloud-based services to secure websites. It offers various products for performance and reliability, video streaming and delivery, advanced security, insights, cloudflare for developers, domain registration, and cloudflare marketplace. The company was founded by Matthew Prince, Michelle Zatlyn, and Lee Holloway in 2009 and is headquartered in San Francisco, CA.
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