Cloudflare (NYSE:NET) PT Lowered to $76.00 at UBS Group

Cloudflare (NYSE:NET) had its target price dropped by analysts at UBS Group from $88.00 to $76.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “sell” rating on the stock. UBS Group’s target price suggests a potential upside of 2.15% from the company’s current price.

NET has been the topic of several other reports. Oppenheimer reduced their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird cut their target price on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday. JMP Securities upped their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Mizuho cut their price target on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday. Finally, KeyCorp decreased their price objective on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.17.

Cloudflare Trading Down 16.4 %

Shares of NET opened at $74.40 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The firm has a 50 day moving average price of $93.67 and a 200-day moving average price of $83.60. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of -140.38 and a beta of 1.15.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. The company had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. As a group, equities research analysts forecast that Cloudflare will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the sale, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the transaction, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas James Kramer sold 6,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now directly owns 216,114 shares in the company, valued at $23,789,829.12. The disclosure for this sale can be found here. Insiders sold a total of 1,029,347 shares of company stock worth $100,594,226 in the last three months. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NET. Riverview Trust Co bought a new stake in shares of Cloudflare during the first quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare in the 4th quarter worth $38,000. GAMMA Investing LLC purchased a new position in shares of Cloudflare in the fourth quarter worth $39,000. Finally, Pingora Partners LLC bought a new position in shares of Cloudflare during the fourth quarter valued at $42,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.