Cloudflare (NYSE:NET) Price Target Cut to $80.00

Cloudflare (NYSE:NET) had its target price decreased by stock analysts at Cantor Fitzgerald from $100.00 to $80.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 7.53% from the company’s current price.

NET has been the topic of several other research reports. Truist Financial boosted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised 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 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. JMP Securities raised their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $81.00 target price (down previously from $110.00) on shares of Cloudflare in a research report on Friday. 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 stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $90.17.

Cloudflare Trading Down 16.4 %

NYSE NET opened at $74.40 on Friday. The firm has a market capitalization of $25.12 billion, a PE ratio of -140.38 and a beta of 1.15. The business’s 50-day moving average price is $93.67 and its two-hundred day moving average price is $83.60. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare has a 12 month low of $39.90 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, analysts expect that Cloudflare will post -0.2 EPS for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,152,389.97. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the sale, the chief executive officer now directly owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,029,347 shares of company stock worth $100,594,226. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in Cloudflare by 13.3% in the first quarter. Geneos Wealth Management Inc. now owns 13,457 shares of the company’s stock valued at $1,303,000 after acquiring an additional 1,583 shares during the last quarter. Csenge Advisory Group purchased a new position in Cloudflare in the first quarter valued at approximately $689,000. Signaturefd LLC lifted its stake in Cloudflare by 6.4% in the first quarter. Signaturefd LLC now owns 9,852 shares of the company’s stock valued at $954,000 after purchasing an additional 591 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Cloudflare by 70.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,241 shares of the company’s stock valued at $992,000 after purchasing an additional 4,235 shares during the period. Finally, Whittier Trust Co. increased its position in Cloudflare by 27,057.1% in the first quarter. Whittier Trust Co. now owns 1,901 shares of the company’s stock worth $184,000 after buying an additional 1,894 shares during the last quarter. 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.