On February 7, 2023, Loop Capital initiated coverage of Cloudflare with a Hold recommendation.
Analyst Price Forecast Suggests 16.13% Upside
As of February 7, 2023, the average one-year price target for Cloudflare is $65.79. The forecasts range from a low of $42.42 to a high of $119.70. The average price target represents an increase of 16.13% from its latest reported closing price of $56.65.
The projected annual revenue for Cloudflare is $1,331MM, an increase of 48.86%. The projected annual EPS is $0.15.
What are large shareholders doing?
Baillie Gifford & holds 26,335,438 shares representing 8.01% ownership of the company. In it's prior filing, the firm reported owning 24,725,247 shares, representing an increase of 6.11%. The firm decreased its portfolio allocation in NET by 12.00% over the last quarter.
Sands Capital Management holds 15,956,268 shares representing 4.86% ownership of the company. In it's prior filing, the firm reported owning 15,643,953 shares, representing an increase of 1.96%. The firm increased its portfolio allocation in NET by 39.78% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 8,634,004 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 5,410,900 shares, representing an increase of 37.33%. The firm increased its portfolio allocation in NET by 27.12% over the last quarter.
Capital World Investors holds 8,069,187 shares representing 2.46% ownership of the company. In it's prior filing, the firm reported owning 10,499,987 shares, representing a decrease of 30.12%. The firm increased its portfolio allocation in NET by 2.68% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,011,122 shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 7,461,440 shares, representing an increase of 6.86%. The firm increased its portfolio allocation in NET by 41.49% over the last quarter.
Fund Sentiment
There are 991 funds or institutions reporting positions in Cloudflare. This is a decrease of 11 owner(s) or 1.10%.
Average portfolio weight of all funds dedicated to US:NET is 0.5294%, an increase of 14.5785%. Total shares owned by institutions increased in the last three months by 0.98% to 276,478K shares.
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.
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.
