Cloudflare (NYSE:NET) Price Target Cut to $95.00 by Analysts at Citigroup

Cloudflare (NYSE:NETGet Rating) had its price target decreased by Citigroup from $120.00 to $95.00 in a research report issued on Friday, The Fly reports. Citigroup’s price objective suggests a potential upside of 22.09% from the stock’s previous close.

Several other analysts have also weighed in on the company. KeyCorp raised their price objective on Cloudflare from $132.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 11th. Truist Financial reduced their price objective on Cloudflare from $240.00 to $200.00 in a research note on Tuesday, January 18th. Morgan Stanley lifted their price target on Cloudflare from $91.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, February 11th. Wells Fargo & Company lifted their price target on Cloudflare from $95.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, February 11th. Finally, Stifel Nicolaus cut their price target on Cloudflare from $126.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and an average target price of $142.30.

NYSE:NET opened at $77.81 on Friday. The stock’s 50-day simple moving average is $106.00 and its 200 day simple moving average is $129.84. The firm has a market capitalization of $25.22 billion, a PE ratio of -93.75 and a beta of 1.01. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 1.41. Cloudflare has a twelve month low of $64.84 and a twelve month high of $221.64.

Cloudflare (NYSE:NETGet Rating) last released its quarterly earnings data on Thursday, February 10th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $193.60 million during the quarter, compared to analyst estimates of $184.79 million. Cloudflare had a negative net margin of 39.65% and a negative return on equity of 15.45%. On average, analysts anticipate that Cloudflare will post -0.36 EPS for the current fiscal year.

In other news, Director Carl Ledbetter sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $122.51, for a total transaction of $2,450,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley J. Meresman sold 18,622 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $106.00, for a total value of $1,973,932.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 599,294 shares of company stock valued at $65,886,479. 20.69% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co bought a new stake in Cloudflare during the first quarter worth $29,000. Private Capital Group LLC grew its holdings in Cloudflare by 109.2% during the first quarter. Private Capital Group LLC now owns 251 shares of the company’s stock worth $30,000 after buying an additional 131 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Cloudflare during the fourth quarter worth $34,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Cloudflare during the fourth quarter worth $39,000. Finally, Clearstead Advisors LLC grew its holdings in Cloudflare by 93.8% during the first quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock worth $37,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 69.96% of the company’s stock.

Cloudflare Company Profile (Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices.

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