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

Cloudflare (NYSE:NET) had its price target dropped by research analysts at JPMorgan Chase & Co. from $90.00 to $80.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 7.53% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer dropped their target price on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial increased their price objective on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 9th. Piper Sandler restated a “neutral” rating and set a $81.00 target price (down previously from $110.00) on shares of Cloudflare in a research note on Friday. Sanford C. Bernstein started coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. Finally, Mizuho reduced their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Four equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.17.

Cloudflare Price Performance

Shares of NYSE NET opened at $74.40 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market cap of $25.12 billion, a price-to-earnings ratio of -140.38 and a beta of 1.15. The stock’s 50-day moving average is $93.67 and its two-hundred day moving average is $83.60. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00.

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. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Analysts forecast that Cloudflare will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 27,901 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $96.56, for a total transaction of $2,694,120.56. Following the completion of the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $32,682,566.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,029,347 shares of company stock valued at $100,594,226. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in shares of Cloudflare during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare during the fourth quarter worth about $39,000. Finally, Pingora Partners LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds 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.