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

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

Other research analysts also recently issued reports about the company. DZ Bank downgraded Cloudflare from a buy rating to a hold rating and set a $110.00 target price on the stock. in a report on Tuesday, February 13th. Wells Fargo & Company boosted their target price on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a report on Friday, February 9th. Sanford C. Bernstein assumed coverage on Cloudflare in a report on Thursday, January 18th. They issued a market perform rating and a $85.00 target price on the stock. Cantor Fitzgerald reissued a neutral rating and issued a $100.00 target price (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Finally, Truist Financial boosted their target price on Cloudflare from $90.00 to $120.00 and gave the stock a buy rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $87.08.

Cloudflare Stock Down 1.5 %

Shares of NET opened at $86.71 on Monday. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12. 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 12 month low of $39.90 and a 12 month high of $116.00. The company has a 50-day moving average price of $96.86 and a two-hundred day moving average price of $81.63.

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

Insider Buying and Selling at Cloudflare

In other 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. In other 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,095,707 shares of company stock worth $106,154,633. Insiders own 14.80% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Cloudflare by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the last quarter. Capital World Investors raised its holdings in shares of Cloudflare by 1.8% in the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after purchasing an additional 487,308 shares during the period. Moneta Group Investment Advisors LLC raised its holdings 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 period. State Street Corp raised its holdings in shares of Cloudflare by 5.3% in the 1st quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after purchasing an additional 278,422 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Cloudflare by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after purchasing an additional 146,503 shares during the period. 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.