Cloudflare (NYSE:NET) Price Target Lowered to $88.00 at Mizuho

Cloudflare (NYSE:NET) had its price target trimmed by Mizuho from $95.00 to $88.00 in a report released on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on NET. Morgan Stanley raised their price target on Cloudflare from $66.00 to $92.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Truist Financial raised their price target on Cloudflare from $90.00 to $120.00 and gave the stock a buy rating in a report on Friday, February 9th. Susquehanna raised their price target on Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a report on Friday, February 9th. Capital One Financial started coverage on Cloudflare in a report on Wednesday, January 17th. They issued an equal weight rating and a $83.00 price objective on the stock. Finally, JMP Securities lifted their price objective on Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Four 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 data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $90.17.

Cloudflare Stock Performance

Shares of NET traded down $14.57 during midday trading on Friday, reaching $74.40. 18,650,549 shares of the stock were exchanged, compared to its average volume of 2,884,762. The business’s 50-day moving average price is $93.67 and its 200 day moving average price is $83.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of -140.60 and a beta of 1.15.

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. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, sell-side analysts expect that Cloudflare will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $20,449,914.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cloudflare news, 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 value 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 filing with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 7,962 shares of the company’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 transaction, the director now directly 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 sold 1,029,347 shares of company stock valued at $100,594,226 in the last ninety days. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its stake in shares of Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after purchasing an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in Cloudflare during the third quarter worth about $569,000. International Assets Investment Management LLC acquired a new stake in Cloudflare during the fourth quarter worth about $11,639,000. Blueshift Asset Management LLC raised its stake in Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after acquiring an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier raised its stake in Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after acquiring an additional 17,600 shares during the period. Institutional investors and hedge funds 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.