In a report released today, Alex Henderson from Needham reiterated a Buy rating on Cloudflare (NET), with a price target of $32.00. The company’s shares closed last Thursday at $29.52, close to its 52-week high of $29.98.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 15.0% and a 53.5% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and CrowdStrike Holdings.
Currently, the analyst consensus on Cloudflare is a Moderate Buy with an average price target of $24.83, implying a -7.4% downside from current levels. In a report issued on May 1, RBC Capital also maintained a Buy rating on the stock with a $24.00 price target.
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The company has a one-year high of $29.98 and a one-year low of $14.50. Currently, Cloudflare has an average volume of 3.45M.
Based on the recent corporate insider activity of 29 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.
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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.
