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

Cloudflare (NYSE:NET) had its price target lowered by Mizuho from $105.00 to $95.00 in a research note released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

NET has been the topic of several other research reports. JMP Securities lifted their target price on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. Cantor Fitzgerald reissued a neutral rating and issued a $100.00 price target (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. JPMorgan Chase & Co. upped 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 cut Cloudflare from a buy rating to a hold rating and set a $110.00 price target for the company. in a research report on Tuesday, February 13th. Finally, Royal Bank of Canada upped their target price on Cloudflare from $95.00 to $108.00 and gave the company an outperform rating in a report on Friday, February 9th. 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.com, the stock has a consensus rating of Hold and an average price target of $87.08.

Cloudflare Stock Performance

NET stock opened at $86.71 on Monday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business’s fifty day simple moving average is $96.86 and its two-hundred day simple moving average is $81.63. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. Analysts predict that Cloudflare will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $30,002,489.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Michelle Zatlyn sold 18,955 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.07, for a total transaction of $1,650,411.85. Following the transaction, the chief operating officer now owns 19,615 shares in the company, valued at approximately $1,707,878.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total value of $1,228,050.00. Following the transaction, the chief financial officer now owns 366,465 shares in the company, valued at approximately $30,002,489.55. The disclosure for this sale can be found here. Insiders have sold 1,095,707 shares of company stock valued at $106,154,633 in the last quarter. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NET. Moneta Group Investment Advisors LLC grew its stake in shares of Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the last quarter. Norges Bank purchased a new position in Cloudflare during the fourth quarter worth $124,592,000. 1832 Asset Management L.P. increased its position in Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after buying an additional 1,597,900 shares in the last quarter. Two Sigma Investments LP increased its position in Cloudflare by 215.1% during the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock worth $82,927,000 after buying an additional 918,096 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after purchasing an additional 740,914 shares during the period. 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.