TD Cowen Cuts Cloudflare (NYSE:NET) Price Target to $110.00

Cloudflare (NYSE:NET) had its price objective lowered by TD Cowen from $117.00 to $110.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

NET has been the topic of a number of other reports. Susquehanna increased their target price on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a report on Friday, February 9th. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a market perform rating and a $85.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Robert W. Baird dropped their price target on shares of Cloudflare from $100.00 to $94.00 and set an outperform rating on the stock in a research report on Friday. Finally, Bank of America lifted their price target on Cloudflare from $52.00 to $60.00 and gave the company an underperform rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $90.13.

Cloudflare Stock Down 0.1 %

Shares of NYSE NET traded down $0.10 during trading on Friday, hitting $74.30. 6,403,901 shares of the company traded hands, compared to its average volume of 3,950,150. The firm has a market capitalization of $25.09 billion, a price-to-earnings ratio of -141.34 and a beta of 1.15. The business’s fifty day moving average is $93.67 and its 200 day moving average is $83.75. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare has a fifty-two week low of $44.60 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities research analysts predict that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 3,000 shares of the 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 completion of the transaction, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $20,449,914.32. 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 Cloudflare stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total value 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 approximately $117,811,238.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 205,238 shares in the company, valued at $20,449,914.32. 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.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently modified their holdings of 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 buying an additional 4,685 shares during the period. Xponance Inc. boosted its holdings in shares of Cloudflare by 0.6% in the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after acquiring an additional 224 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Cloudflare by 27.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock worth $990,000 after acquiring an additional 3,337 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Cloudflare during the 3rd quarter valued at $372,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Cloudflare during the 3rd quarter worth about $255,000. 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.