Cloudflare (NYSE:NET) Given New $95.00 Price Target at Mizuho

Cloudflare (NYSE:NET) had its price target decreased by Mizuho from $105.00 to $95.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 1.32% from the company’s previous close.

A number of other research firms have also commented on NET. Sanford C. Bernstein started coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target for the company. Susquehanna increased their price target on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company boosted their target price on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. JMP Securities raised their price target on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley upped their price target on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.08.

Cloudflare Trading Down 2.4 %

Shares of Cloudflare stock opened at $93.76 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a market capitalization of $31.66 billion, a P/E ratio of -170.47 and a beta of 1.13. Cloudflare has a 52-week low of $39.90 and a 52-week high of $116.00. The stock’s 50-day simple moving average is $96.46 and its 200 day simple moving average is $81.16.

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

Insiders Place Their Bets

In other news, Director Carl Ledbetter sold 44,154 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $94.37, for a total transaction of $4,166,812.98. Following the completion of the transaction, the director now directly owns 1,222,859 shares in the company, valued at $115,401,203.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Carl Ledbetter sold 44,154 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $94.37, for a total value of $4,166,812.98. Following the transaction, the director now owns 1,222,859 shares in the company, valued at $115,401,203.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $76.15, for a total transaction of $976,243.00. Following the sale, the chief operating officer now directly owns 249,830 shares of the company’s stock, valued at approximately $19,024,554.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,113,937 shares of company stock valued at $106,926,869. 14.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NET. Riverview Trust Co purchased a new stake in Cloudflare in the first quarter worth approximately $27,000. Sunbelt Securities Inc. purchased a new position in shares of Cloudflare in the 1st quarter worth $29,000. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare in the fourth quarter worth $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare during the fourth quarter valued at $39,000. Finally, Providence Capital Advisors LLC lifted its holdings in Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares during the period. 82.68% of the stock is owned by 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.