Fintel reports that on January 2, 2025, Goldman Sachs upgraded their outlook for Cloudflare (NYSE:NET) from Sell to Buy.
Analyst Price Forecast Suggests 7.72% Downside
As of December 23, 2024, the average one-year price target for Cloudflare is $99.36/share. The forecasts range from a low of $57.57 to a high of $142.80. The average price target represents a decrease of 7.72% from its latest reported closing price of $107.68 / share.
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The projected annual revenue for Cloudflare is 2,225MM, an increase of 41.53%. The projected annual non-GAAP EPS is 0.37, an increase of 48.75% from the prior forecast.
What is the Fund Sentiment?
There are 1,128 funds or institutions reporting positions in Cloudflare. This is an increase of 23 owner(s) or 2.08% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.42%, an increase of 9.08%. Total shares owned by institutions increased in the last three months by 1.92% to 307,379K shares. 
The put/call ratio of NET is 1.05, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 35,149K shares representing 11.50% ownership of the company. In its prior filing, the firm reported owning 33,340K shares , representing an increase of 5.15%. The firm decreased its portfolio allocation in NET by 2.11% over the last quarter.
Baillie Gifford holds 32,511K shares representing 10.63% ownership of the company. In its prior filing, the firm reported owning 32,723K shares , representing a decrease of 0.65%. The firm decreased its portfolio allocation in NET by 6.80% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 19,520K shares representing 6.39% ownership of the company. In its prior filing, the firm reported owning 18,161K shares , representing an increase of 6.96%. The firm increased its portfolio allocation in NET by 24.04% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,152K shares representing 2.99% ownership of the company. In its prior filing, the firm reported owning 9,052K shares , representing an increase of 1.08%. The firm decreased its portfolio allocation in NET by 7.27% over the last quarter.
Sands Capital Management holds 6,344K shares representing 2.08% ownership of the company. In its prior filing, the firm reported owning 6,469K shares , representing a decrease of 1.96%. The firm decreased its portfolio allocation in NET by 1.07% 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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