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

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

A number of other research firms have also weighed in on NET. Sanford C. Bernstein began coverage on Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 price objective for the company. Susquehanna increased their target price on Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a research note on Friday, February 9th. Cantor Fitzgerald reiterated a neutral rating and set a $100.00 target price on shares of Cloudflare in a research note on Wednesday, April 17th. Capital One Financial began coverage on Cloudflare in a research note on Wednesday, January 17th. They set an equal weight rating and a $83.00 target price on the stock. Finally, Morgan Stanley increased their target price on Cloudflare from $66.00 to $92.00 and gave the company an equal weight rating in a research note on Monday, February 12th. Four research 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 data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $90.13.

Cloudflare Stock Down 0.1 %

NET stock opened at $74.29 on Friday. Cloudflare has a twelve month low of $44.60 and a twelve month high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm has a market cap of $25.08 billion, a PE ratio of -140.17 and a beta of 1.15. The business has a 50 day moving average of $93.17 and a 200 day moving average of $83.83.

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

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the sale, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $73.97, for a total value of $1,109,550.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at $25,036,551.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,044,347 shares of company stock valued at $101,703,776. 12.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently made changes to their positions in the company. Cigna Investments Inc. New increased its holdings in shares of Cloudflare by 4.2% in the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after acquiring an additional 171 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

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.