Fintel reports that on August 7, 2023, Morgan Stanley reiterated coverage of Cloudflare Inc - (NYSE:NET) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 4.03% Downside
As of August 2, 2023, the average one-year price target for Cloudflare Inc - is 65.06. The forecasts range from a low of 38.38 to a high of $86.10. The average price target represents a decrease of 4.03% from its latest reported closing price of 67.79.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cloudflare Inc - is 1,331MM, an increase of 18.08%. The projected annual non-GAAP EPS is 0.15.
What is the Fund Sentiment?
There are 1023 funds or institutions reporting positions in Cloudflare Inc -. This is an increase of 19 owner(s) or 1.89% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.57%, an increase of 14.46%. Total shares owned by institutions increased in the last three months by 4.87% to 297,097K shares. 
The put/call ratio of NET is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 31,506K shares representing 9.43% ownership of the company. In it's prior filing, the firm reported owning 25,718K shares, representing an increase of 18.37%. The firm increased its portfolio allocation in NET by 22.36% over the last quarter.
AGTHX - GROWTH FUND OF AMERICA holds 17,113K shares representing 5.12% ownership of the company. In it's prior filing, the firm reported owning 10,675K shares, representing an increase of 37.62%. The firm increased its portfolio allocation in NET by 75.39% over the last quarter.
Capital World Investors holds 16,873K shares representing 5.05% 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 4.39% 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.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,422K shares representing 2.52% 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.
Additional reading:
- CLOUDFLARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)
- CLOUDFLARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)
- Description of Capital Stock.
- CLOUDFLARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) Three Months Ended December 31, Year Ended December 31, 2022 2021 2022 2021 Revenue $ 274,700 $ 193,596 $ 975,241 $ 656,426 Cost of revenue(1)(2) 6
- CLOUDFLARE, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data)
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.
