Cloudflare (NYSE:NET) Price Target Cut to $110.00 by Analysts at Oppenheimer

Cloudflare (NYSE:NET) had its target price decreased by Oppenheimer from $122.00 to $110.00 in a research report released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Cloudflare from $53.00 to $90.00 and gave the company a neutral rating in a report on Friday, February 9th. Wells Fargo & Company increased their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a report on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a buy rating to a hold rating and set a $110.00 target price on the stock. in a report on Tuesday, February 13th. KeyCorp increased their target price on shares of Cloudflare from $94.00 to $132.00 and gave the stock an overweight rating in a report on Friday, February 9th. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $100.00 target price on shares of Cloudflare in a report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare has an average rating of Hold and an average target price of $90.13.

Cloudflare Trading Down 0.1 %

NET opened at $74.29 on Friday. Cloudflare has a one year low of $44.60 and a one year high of $116.00. The business’s 50 day moving average price is $93.17 and its 200 day moving average price is $83.83. The stock has a market capitalization of $25.08 billion, a PE ratio of -140.17 and a beta of 1.15. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, equities research analysts expect that Cloudflare will post -0.2 EPS for the current year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares in the company, valued at $25,036,551.93. The disclosure for this sale can be found here. Insiders have sold 1,044,347 shares of company stock valued at $101,703,776 in the last ninety days. Insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its holdings in shares of Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Cloudflare in the 3rd quarter worth $569,000. International Assets Investment Management LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $11,639,000. Blueshift Asset Management LLC increased its stake in shares of Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after acquiring an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier raised its holdings in Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after purchasing an additional 17,600 shares in the last quarter. 82.68% of the stock is currently 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.