Cloudflare (NET)

• Market cap: $37.9B
• 1 day: -0.23%
• 5 days: 10.95%
• 1 month: 25.94%
• 3 months: 40.89%
• 6 months: 58.14%
• Year to date: 39.21%
• 1 year: 41.71%
• 5 years: 523.01%
• 10 years: 513.67%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Cloudflare is a software company based in San Francisco, California, that offers security and web performance offerings by utilizing a distributed, serverless content delivery network, or CDN. The firm's edge computing platform, Workers, leverages this network by providing clients the ability to deploy, and execute code without maintaining servers.

Employees: 4,160

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

37% more first-time investments, than exits

New positions opened: 85 | Existing positions closed: 62

4% more funds holding

Funds holding: 637 [Q2] → 660 (+23) [Q3]

5% more repeat investments, than reductions

Existing positions increased: 237 | Existing positions reduced: 226

10.07% less ownership

Funds ownership: 93.69% [Q2] → 83.62% (-10.07%) [Q3]

12% less capital invested

Capital invested by funds: $23.4B [Q2] → $20.6B (-$2.81B) [Q3]

20% less call options, than puts

Call options by funds: $628M | Put options by funds: $784M

29% less funds holding in top 10

Funds holding in top 10: 14 [Q2] → 10 (-4) [Q3]

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $65 41% downside
• Avg. target: $98 12% downside
• High target: $130 18% upside

7 analyst ratings

• positive: 2 29%
• neutral: 4 57%
• negative: 1 14%

Morgan Stanley Keith Weiss 74% 1-year accuracy 14 / 19 met price target	18% upside $130	Overweight Upgraded	2 Dec 2024
UBS Roger Boyd 69% 1-year accuracy 11 / 16 met price target	14% downside $95	Neutral Maintained	8 Nov 2024
Wells Fargo Andrew Nowinski 78% 1-year accuracy 18 / 23 met price target	0% downside $110	Overweight Maintained	8 Nov 2024
Scotiabank Patrick Colville 83% 1-year accuracy 20 / 24 met price target	21% downside $87	Sector Perform Maintained	8 Nov 2024
Piper Sandler James Fish 74% 1-year accuracy 17 / 23 met price target	17% downside $92	Neutral Maintained	8 Nov 2024