Cloudflare (NYSE:NET) PT Lowered to $95.00

Cloudflare (NYSE:NET) had its price target reduced by Mizuho from $105.00 to $95.00 in a research report report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently commented on NET. Susquehanna upped their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a report on Friday, February 9th. Royal Bank of Canada upped their target price on Cloudflare from $95.00 to $108.00 and gave the company an outperform rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their target price on Cloudflare from $53.00 to $90.00 and gave the stock a neutral rating in a research note on Friday, February 9th. DZ Bank downgraded Cloudflare from a buy rating to a hold rating and set a $110.00 price target for the company. in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company increased their price objective on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare presently has an average rating of Hold and an average price target of $87.08.

Cloudflare Stock Down 3.6 %

Shares of NYSE NET opened at $90.39 on Monday. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a market cap of $30.52 billion, a price-to-earnings ratio of -164.35 and a beta of 1.12. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm’s 50-day simple moving average is $96.65 and its 200 day simple moving average is $81.35.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, research analysts expect that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the sale, the chief executive officer now owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cloudflare news, Director Carl Ledbetter sold 30,214 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $76.03, for a total value of $2,297,170.42. Following the sale, the director now owns 1,539,316 shares in the company, valued at approximately $117,034,195.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,152,389.97. The disclosure for this sale can be found here. Insiders sold a total of 1,113,937 shares of company stock valued at $106,926,869 in the last quarter. Insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Cloudflare by 48.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock worth $1,066,000 after buying an additional 2,912 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Cloudflare in the 1st quarter worth about $1,950,000. Synovus Financial Corp acquired a new position in shares of Cloudflare in the 1st quarter valued at about $439,000. Cibc World Market Inc. boosted its position in shares of Cloudflare by 16.8% during the 1st quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock valued at $2,611,000 after purchasing an additional 3,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cloudflare by 10.8% during the first quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock worth $21,732,000 after purchasing an additional 17,681 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides 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; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.