Cloudflare (NYSE:NET) PT Lowered to $80.00 at Cantor Fitzgerald

Cloudflare (NYSE:NET) had its price target cut by investment analysts at Cantor Fitzgerald from $100.00 to $80.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 8.61% from the stock’s current price.

A number of other brokerages have also commented on NET. Morgan Stanley lifted their price objective on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Susquehanna boosted their price objective on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird dropped their price objective on Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday. Sanford C. Bernstein began coverage on Cloudflare in a report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price objective on the stock. Finally, Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the company 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 company. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $90.57.

Cloudflare Trading Down 17.2 %

NYSE NET traded down $15.31 on Friday, reaching $73.66. 10,871,767 shares of the company were exchanged, compared to its average volume of 3,835,702. The stock has a market capitalization of $24.87 billion, a P/E ratio of -134.38 and a beta of 1.15. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The business’s fifty day moving average price is $94.15 and its 200 day moving average price is $83.39.

Cloudflare (NYSE:NET) last announced its earnings results 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. The company 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%. Analysts forecast that Cloudflare will post -0.2 earnings per share for the current year.

Insider Transactions at Cloudflare

In other news, Director Carl Ledbetter sold 7,962 shares of the company’s 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 sale, the director now directly owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Carl Ledbetter sold 7,962 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the sale, the director now directly owns 1,446,957 shares in the company, valued at $117,811,238.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,026,347 shares of company stock valued at $100,329,866. 12.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its holdings in Cloudflare by 9.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock worth $3,588,000 after acquiring an additional 4,685 shares during the period. Xponance Inc. raised its holdings in Cloudflare by 0.6% during the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Cloudflare by 27.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock valued at $990,000 after acquiring an additional 3,337 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new position in Cloudflare in the 3rd quarter worth about $372,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Cloudflare in the 3rd quarter worth about $255,000. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

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.