In a report released today, Shaul Eyal from Oppenheimer assigned a Buy rating to Cloudflare (NET), with a price target of $55.00. The company’s shares closed last Wednesday at $38.70, close to its 52-week high of $42.60.
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 21.4% and a 72.8% 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 $41.56, implying a 8.0% upside from current levels. In a report issued on July 17, William Blair also initiated coverage with a Buy rating on the stock.
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The company has a one-year high of $42.60 and a one-year low of $14.50. Currently, Cloudflare has an average volume of 5.52M.
Based on the recent corporate insider activity of 83 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.
