Cloudflare (NYSE:NET) Price Target Cut to $110.00 by Analysts at TD Cowen

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

NET has been the topic of a number of other research reports. JMP Securities increased their target price on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Mizuho dropped their price objective on shares of Cloudflare from $95.00 to $88.00 and set a neutral rating on the stock in a report on Friday. Robert W. Baird cut their target price on shares of Cloudflare from $100.00 to $94.00 and set an outperform rating for the company in a research report on Friday. Oppenheimer decreased their price target on shares of Cloudflare from $122.00 to $110.00 and set an outperform rating on the stock in a research report on Friday. Finally, Susquehanna boosted their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a neutral rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare currently has an average rating of Hold and a consensus target price of $90.13.

Cloudflare Stock Performance

Shares of NET stock traded down $0.10 during trading hours on Friday, reaching $74.30. The company had a trading volume of 6,403,901 shares, compared to its average volume of 3,950,150. The firm has a market cap of $25.09 billion, a PE ratio of -141.34 and a beta of 1.15. The business has a fifty day moving average price of $93.67 and a 200-day moving average price of $83.75. Cloudflare has a one year low of $44.60 and a one year high of $116.00. 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 (NYSE:NET) last posted 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. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Sell-side analysts predict 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 Cloudflare stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total value of $648,266.04. Following the sale, the director now owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of Cloudflare 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 completion of the transaction, the director now directly owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 6,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00. Following the completion of the sale, the insider now owns 216,114 shares in the company, valued at $23,789,829.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,029,347 shares of company stock valued at $100,594,226. 12.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NET. Geneos Wealth Management Inc. raised its stake in shares of Cloudflare by 13.3% in the first quarter. Geneos Wealth Management Inc. now owns 13,457 shares of the company’s stock valued at $1,303,000 after acquiring an additional 1,583 shares during the period. Csenge Advisory Group bought a new position in Cloudflare in the 1st quarter valued at $689,000. Signaturefd LLC lifted its position in shares of Cloudflare by 6.4% during the first quarter. Signaturefd LLC now owns 9,852 shares of the company’s stock worth $954,000 after purchasing an additional 591 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Cloudflare by 70.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,241 shares of the company’s stock valued at $992,000 after purchasing an additional 4,235 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of Cloudflare by 27,057.1% in the first quarter. Whittier Trust Co. now owns 1,901 shares of the company’s stock worth $184,000 after purchasing an additional 1,894 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.