Cloudflare (NYSE:NET) Price Target Lowered to $144.00 at Morgan Stanley

Cloudflare (NYSE:NET) had its target price cut by Morgan Stanley from $154.00 to $144.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and increased their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. JMP Securities boosted their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and an average price target of $134.84.

Cloudflare Trading Up 0.3 %

Shares of NYSE:NET opened at $109.47 on Wednesday. Cloudflare has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $37.78 billion, a P/E ratio of -497.59 and a beta of 1.59. The stock’s 50-day moving average is $130.46 and its 200-day moving average is $113.85.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts predict that Cloudflare will post -0.11 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 33,864 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $119.40, for a total transaction of $4,043,361.60. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $30,192,558.60. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 561,973 shares of company stock worth $73,056,260. 12.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NET. NBC Securities Inc. acquired a new position in shares of Cloudflare during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC raised its holdings in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after purchasing an additional 142 shares during the period. Global Financial Private Client LLC boosted its stake in shares of Cloudflare by 38,100.0% in the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after purchasing an additional 381 shares during the last quarter. Finally, CVA Family Office LLC grew its position in shares of Cloudflare by 37.1% during the 1st quarter. CVA Family Office LLC now owns 392 shares of the company’s stock worth $44,000 after buying an additional 106 shares during the period. 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.