Cloudflare (NYSE:NET) Price Target Lowered to $80.00 at Susquehanna

Cloudflare (NYSE:NET) had its target price dropped by research analysts at Susquehanna from $115.00 to $80.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 7.93% from the company’s previous close.

Several other equities analysts have also commented on NET. DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Tuesday, February 13th. Truist Financial lifted their price target on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Capital One Financial initiated coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target on the stock. Morgan Stanley increased their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, Mizuho cut their target price on Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.48.

Cloudflare Price Performance

Cloudflare stock opened at $74.12 on Monday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a 50-day moving average price of $92.69 and a 200 day moving average price of $83.93. Cloudflare has a 12-month low of $44.60 and a 12-month high of $116.00. The stock has a market cap of $25.03 billion, a P/E ratio of -139.85 and a beta of 1.15.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Sell-side analysts anticipate that Cloudflare will post -0.2 earnings per share for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction dated Friday, February 9th. The stock was 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 directly owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total value of $1,109,550.00. Following the transaction, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at approximately $25,036,551.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s 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 directly owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The disclosure for this sale can be found here. Insiders have sold 1,036,385 shares of company stock valued at $101,055,510 over the last quarter. 12.83% of the stock is owned by insiders.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in Cloudflare by 9.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock worth $3,588,000 after buying an additional 4,685 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Cloudflare by 27.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock valued at $990,000 after acquiring an additional 3,337 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Cloudflare during the 3rd quarter worth $372,000. J.W. Cole Advisors Inc. acquired a new stake in Cloudflare during the 3rd quarter worth $255,000. Finally, Forsta AP Fonden grew its position in Cloudflare by 0.7% during the 3rd quarter. Forsta AP Fonden now owns 57,500 shares of the company’s stock worth $3,625,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

About Cloudflare

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.