Cloudflare (NYSE:NET) Price Target Cut to $95.00 by Analysts at Mizuho

Cloudflare (NYSE:NET) had its target price reduced by Mizuho from $105.00 to $95.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on NET. Susquehanna lifted their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Capital One Financial assumed coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They issued an equal weight rating and a $83.00 target price for the company. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an overweight rating in a research note on Friday, February 9th. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a market perform rating and a $85.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company a buy rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare presently has a consensus rating of Hold and a consensus target price of $87.08.

Cloudflare Stock Down 3.3 %

Shares of Cloudflare stock opened at $88.05 on Monday. The firm’s 50 day moving average price is $96.93 and its 200-day moving average price is $81.59. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare has a 52-week low of $39.90 and a 52-week high of $116.00. The company has a market cap of $29.73 billion, a P/E ratio of -160.09 and a beta of 1.12.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, sell-side analysts predict that Cloudflare will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 66,384 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $86.88, for a total value of $5,767,441.92. Following the completion of the sale, the director now owns 1,472,932 shares of the company’s stock, valued at approximately $127,968,332.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $78.68, for a total value of $1,008,677.60. Following the completion of the sale, the chief operating officer now owns 249,830 shares of the company’s stock, valued at approximately $19,656,624.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carl Ledbetter sold 66,384 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the sale, the director now directly owns 1,472,932 shares of the company’s stock, valued at approximately $127,968,332.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,055,903 shares of company stock valued at $102,487,506. 14.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently modified their holdings of the business. 180 Wealth Advisors LLC purchased a new stake in shares of Cloudflare during the first quarter worth $205,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cloudflare by 5.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,126 shares of the company’s stock worth $2,046,000 after buying an additional 1,163 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Cloudflare during the first quarter worth $27,000. Wealth Management Partners LLC grew its holdings in shares of Cloudflare by 16.3% during the first quarter. Wealth Management Partners LLC now owns 3,452 shares of the company’s stock worth $334,000 after buying an additional 483 shares in the last quarter. Finally, Strategic Planning Group LLC grew its holdings in shares of Cloudflare by 13.7% during the first quarter. Strategic Planning Group LLC now owns 30,649 shares of the company’s stock worth $2,968,000 after buying an additional 3,691 shares in the last quarter. Hedge funds and other 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.