Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Cloudflare (NYSE:NET) with a Peer Perform recommendation.
Analyst Price Forecast Suggests 10.48% Upside
As of July 4, 2024, the average one-year price target for Cloudflare is $92.75/share. The forecasts range from a low of $50.50 to a high of $141.75. The average price target represents an increase of 10.48% from its latest reported closing price of $83.95 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cloudflare is 1,784MM, an increase of 28.79%. The projected annual non-GAAP EPS is 0.25.
What is the Fund Sentiment?
There are 1,144 funds or institutions reporting positions in Cloudflare. This is an increase of 30 owner(s) or 2.69% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.49%, an increase of 5.09%. Total shares owned by institutions decreased in the last three months by 0.59% to 295,287K shares. 
The put/call ratio of NET is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 30,147K shares representing 8.87% ownership of the company. In its prior filing, the firm reported owning 30,939K shares , representing a decrease of 2.63%. The firm increased its portfolio allocation in NET by 11.23% over the last quarter.
Capital World Investors holds 28,129K shares representing 8.28% ownership of the company. In its prior filing, the firm reported owning 27,544K shares , representing an increase of 2.08%. The firm increased its portfolio allocation in NET by 10.52% over the last quarter.
AGTHX – GROWTH FUND OF AMERICA holds 18,219K shares representing 5.36% ownership of the company. In its prior filing, the firm reported owning 18,545K shares , representing a decrease of 1.79%. The firm increased its portfolio allocation in NET by 10.78% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,930K shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 8,843K shares , representing an increase of 0.97%. The firm increased its portfolio allocation in NET by 7.06% over the last quarter.
Sands Capital Management holds 6,466K shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 10,594K shares , representing a decrease of 63.83%. The firm decreased its portfolio allocation in NET by 34.67% 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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