Oppenheimer Upgrades Cloudflare Inc - (NET)
Fintel reports that on November 21, 2023, Oppenheimer upgraded their outlook for Cloudflare Inc - (NYSE:NET) from Perform to Outperform .
Analyst Price Forecast Suggests 2.61% Downside
As of October 31, 2023, the average one-year price target for Cloudflare Inc - is 70.91. The forecasts range from a low of 43.43 to a high of $94.50. The average price target represents a decrease of 2.61% from its latest reported closing price of 72.81.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cloudflare Inc - is 1,331MM, an increase of 10.09%. The projected annual non-GAAP EPS is 0.15.
What is the Fund Sentiment?
There are 989 funds or institutions reporting positions in Cloudflare Inc -. This is an increase of 23 owner(s) or 2.38% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.51%, a decrease of 6.13%. Total shares owned by institutions increased in the last three months by 2.10% to 300,103K shares. 
The put/call ratio of NET is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 31,058K shares representing 9.25% ownership of the company. In it's prior filing, the firm reported owning 31,506K shares, representing a decrease of 1.44%. The firm decreased its portfolio allocation in NET by 62.61% over the last quarter.
Capital World Investors holds 27,057K shares representing 8.06% ownership of the company. In it's prior filing, the firm reported owning 26,433K shares, representing an increase of 2.30%. The firm increased its portfolio allocation in NET by 1.66% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 18,248K shares representing 5.43% ownership of the company. In it's prior filing, the firm reported owning 17,113K shares, representing an increase of 6.22%. The firm decreased its portfolio allocation in NET by 7.01% over the last quarter.
Sands Capital Management holds 11,007K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 11,405K shares, representing a decrease of 3.61%. The firm increased its portfolio allocation in NET by 2.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,590K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 8,422K shares, representing an increase of 1.96%. The firm decreased its portfolio allocation in NET by 0.23% 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.
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This story originally appeared on Fintel.