Cantor Fitzgerald Cuts Cloudflare (NYSE:NET) Price Target to $80.00

Cloudflare (NYSE:NET) had its price objective lowered by Cantor Fitzgerald from $100.00 to $80.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the company. Capital One Financial started coverage on Cloudflare in a research note on Wednesday, January 17th. They set an equal weight rating and a $83.00 price objective for the company. Piper Sandler reiterated a neutral rating and issued a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a research note on Friday. KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research report on Friday, February 9th. Susquehanna upped their price objective on Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a research report on Friday, February 9th. Finally, Morgan Stanley increased their target price on Cloudflare from $66.00 to $92.00 and gave the company an equal weight rating in a research note on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $90.13.

Cloudflare Stock Down 0.1 %

Shares of NET stock traded down $0.10 during mid-day trading on Friday, reaching $74.30. 6,403,901 shares of the company’s stock traded hands, compared to its average volume of 3,950,150. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The company’s 50-day moving average price is $93.67 and its 200-day moving average price is $83.75. The company has a market cap of $25.09 billion, a P/E ratio of -141.34 and a beta of 1.15. Cloudflare has a 12 month low of $44.60 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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 12.78%. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, equities analysts expect that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was 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 owns 1,446,957 shares of the company’s stock, valued at $117,811,238.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.64, for a total transaction of $298,920.00. Following the sale, the insider now owns 205,238 shares in the company, valued at approximately $20,449,914.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Ledbetter sold 7,962 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the completion of the transaction, the director now owns 1,446,957 shares of the company’s stock, valued at $117,811,238.94. The disclosure for this sale can be found here. Insiders have sold 1,029,347 shares of company stock worth $100,594,226 in the last 90 days. 12.83% of the stock is currently owned by insiders.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of the company. Cigna Investments Inc. New increased its stake in Cloudflare by 4.2% in the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after buying an additional 129 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares in the last quarter. Quent Capital LLC raised its stake in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Cloudflare by 34.4% in the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.