NET

Baird Maintains Cloudflare Inc - (NET) Outperform Recommendation

Fintel reports that on June 28, 2023, Baird maintained coverage of Cloudflare Inc - (NYSE:NET) with a Outperform recommendation.

Analyst Price Forecast Suggests 8.04% Downside

As of June 1, 2023, the average one-year price target for Cloudflare Inc - is 58.79. The forecasts range from a low of 38.38 to a high of $86.10. The average price target represents a decrease of 8.04% from its latest reported closing price of 63.93.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cloudflare Inc - is 1,331MM, an increase of 26.37%. The projected annual non-GAAP EPS is 0.15.

What is the Fund Sentiment?

There are 1020 funds or institutions reporting positions in Cloudflare Inc -. This is an increase of 22 owner(s) or 2.20% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.58%, an increase of 31.03%. Total shares owned by institutions increased in the last three months by 0.63% to 284,845K shares. NET / Cloudflare Inc - Class A Put/Call Ratios The put/call ratio of NET is 0.90, indicating a bullish outlook.

What are Other Shareholders Doing?

NET / Cloudflare Inc - Class A Shares Held by Institutions

Baillie Gifford holds 25,718K shares representing 7.75% ownership of the company. In it's prior filing, the firm reported owning 26,335K shares, representing a decrease of 2.40%. The firm increased its portfolio allocation in NET by 15.31% over the last quarter.

Capital World Investors holds 16,873K shares representing 5.08% ownership of the company. In it's prior filing, the firm reported owning 15,867K shares, representing an increase of 5.96%. The firm increased its portfolio allocation in NET by 40.63% over the last quarter.

Sands Capital Management holds 14,663K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 15,454K shares, representing a decrease of 5.40%. The firm increased its portfolio allocation in NET by 12.85% over the last quarter.

AGTHX - GROWTH FUND OF AMERICA holds 10,675K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 8,634K shares, representing an increase of 19.12%. The firm increased its portfolio allocation in NET by 52.95% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,422K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 8,220K shares, representing an increase of 2.40%. The firm increased its portfolio allocation in NET by 29.03% over the last quarter.

Cloudflare Background Information
(This description is provided by the company.)

Cloudflare, Inc. is on a mission to help build a better Internet. Cloudflare's platform protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine's Top Company Cultures 2018 list and ranked among the World's Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, Seattle, WA, New York, NY, San Jose, CA, Washington, D.C., Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.

Key filings for this company:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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