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

Cloudflare (NYSE:NET) had its price target trimmed by Cantor Fitzgerald from $100.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Cloudflare from $53.00 to $90.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Needham & Company LLC raised their price objective on Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a research report on Friday, February 9th. KeyCorp upped their target price 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. Wells Fargo & Company increased their price objective 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. Finally, Robert W. Baird dropped their price target on shares of Cloudflare from $100.00 to $94.00 and set an outperform rating for the company in a research note on Friday. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has an average rating of Hold and a consensus price target of $90.13.

Cloudflare Trading 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 were exchanged, compared to its average volume of 3,950,150. The company has a fifty day moving average price of $93.67 and a 200-day moving average price of $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. The firm has a market capitalization of $25.09 billion, a PE 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 issued its 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. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. As a group, equities research analysts expect that Cloudflare will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 7,962 shares of the firm’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 transaction, 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 SEC, which is accessible through this link. In other news, insider Douglas James Kramer sold 6,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now owns 216,114 shares in the company, valued at approximately $23,789,829.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The disclosure for this sale can be found here. Insiders sold a total of 1,029,347 shares of company stock worth $100,594,226 in the last 90 days. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. Riverview Trust Co purchased a new position in shares of Cloudflare during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. ICA Group Wealth Management LLC purchased a new position in Cloudflare in the fourth quarter worth $38,000. GAMMA Investing LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth $39,000. Finally, Pingora Partners LLC acquired a new position in shares of Cloudflare during the 4th quarter worth $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.