Needham & Company LLC Boosts Cloudflare (NYSE:NET) Price Target to $280.00

Cloudflare (NYSE:NET) had its price target upped by equities researchers at Needham & Company LLC from $250.00 to $280.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 18.71% from the stock’s previous close.

A number of other research analysts have also commented on the stock. New Street Research set a $140.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. Stifel Nicolaus set a $260.00 price target on Cloudflare in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research report on Monday, April 20th. KeyCorp downgraded Cloudflare from an “overweight” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Susquehanna raised their target price on shares of Cloudflare from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Eighteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $241.32.

Cloudflare Stock Down 4.8%

Cloudflare stock opened at $235.88 on Wednesday. The stock has a market cap of $83.38 billion, a PE ratio of -943.50, a P/E/G ratio of 4,156.04 and a beta of 1.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. The stock’s fifty day moving average is $214.74 and its two-hundred day moving average is $201.01. Cloudflare has a 1-year low of $158.83 and a 1-year high of $276.82.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 $639.76 million for the quarter, compared to analysts’ expectations of $620.83 million. During the same quarter last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $211.83, for a total value of $5,431,533.03. Following the sale, the insider directly owned 47,425 shares in the company, valued at $10,046,037.75. This represents a 35.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katrin Suder sold 293 shares of Cloudflare stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $252.92, for a total value of $74,105.56. Following the transaction, the director owned 37,430 shares of the company’s stock, valued at $9,466,795.60. This represents a 0.78% 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 527,784 shares of company stock worth $111,803,817 in the last 90 days. Insiders own 10.89% of the company’s stock.

Institutional Trading of Cloudflare

A number of large investors have recently made changes to their positions in NET. Parallel Advisors LLC raised its stake in Cloudflare by 8.0% in the 1st quarter. Parallel Advisors LLC now owns 5,510 shares of the company’s stock valued at $1,137,000 after purchasing an additional 406 shares during the last quarter. Verus Capital Partners LLC grew its holdings in shares of Cloudflare by 7.5% during the first quarter. Verus Capital Partners LLC now owns 1,345 shares of the company’s stock worth $278,000 after buying an additional 94 shares in the last quarter. Essential Partners LLC grew its holdings in shares of Cloudflare by 14.5% during the first quarter. Essential Partners LLC now owns 402 shares of the company’s stock worth $83,000 after buying an additional 51 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Cloudflare by 583.1% during the first quarter. Janus Henderson Group PLC now owns 241,367 shares of the company’s stock valued at $49,805,000 after buying an additional 206,032 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in shares of Cloudflare by 4.8% during the first quarter. Centaurus Financial Inc. now owns 1,780 shares of the company’s stock valued at $367,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.