Cloudflare (NYSE:NET) PT Lowered to $80.00 at JPMorgan Chase & Co.

Cloudflare (NYSE:NET) had its price objective decreased by JPMorgan Chase & Co. from $90.00 to $80.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on NET. Royal Bank of Canada lifted their price target on Cloudflare from $95.00 to $108.00 and gave the stock an outperform rating in a report on Friday, February 9th. KeyCorp lifted their price target on Cloudflare from $94.00 to $132.00 and gave the stock an overweight rating in a report on Friday, February 9th. DZ Bank cut Cloudflare from a buy rating to a hold rating and set a $110.00 price target for the company. in a report on Tuesday, February 13th. Capital One Financial assumed coverage on Cloudflare in a report on Wednesday, January 17th. They set an equal weight rating and a $83.00 price target for the company. Finally, Robert W. Baird reduced their price target on Cloudflare from $100.00 to $94.00 and set an outperform rating for the company in a report on Friday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $90.13.

Cloudflare Trading Down 0.1 %

Shares of Cloudflare stock opened at $74.29 on Friday. Cloudflare has a 12 month low of $44.60 and a 12 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 stock’s fifty day simple moving average is $93.17 and its 200 day simple moving average is $83.83.

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

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 338,469 shares in the company, valued at approximately $25,036,551.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at $25,036,551.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the completion of the transaction, the director now owns 1,446,957 shares in the company, valued at approximately $117,811,238.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,044,347 shares of company stock worth $101,703,776. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

Large investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Cloudflare in the third quarter valued at about $569,000. International Assets Investment Management LLC acquired a new stake in Cloudflare in the fourth quarter valued at about $11,639,000. Blueshift Asset Management LLC boosted its stake in Cloudflare by 100.2% in the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after buying an additional 12,974 shares in the last quarter. Finally, LA Financiere DE L Echiquier boosted its stake in Cloudflare by 4.5% in the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after buying an additional 17,600 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.