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

Cloudflare (NYSE:NET) had its target price lowered by stock analysts at Cantor Fitzgerald from $100.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 7.53% from the company’s previous close.

A number of other equities research analysts also recently commented on NET. Susquehanna lifted their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada increased their target price on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised their target price on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target for the company. Finally, Morgan Stanley raised their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.17.

Cloudflare Trading Down 16.4 %

Shares of NYSE:NET opened at $74.40 on Friday. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00. The stock’s fifty day moving average price is $93.67 and its 200-day moving average price is $83.60. The company has a market cap of $25.12 billion, a P/E ratio of -140.38 and a beta of 1.15. 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 (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. Sell-side analysts expect that Cloudflare will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Carl Ledbetter sold 8,022 shares of Cloudflare stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $87.49, for a total transaction of $701,844.78. Following the sale, the director now owns 1,196,793 shares in the company, valued at $104,707,419.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl Ledbetter sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $87.49, for a total value of $701,844.78. Following the transaction, the director now owns 1,196,793 shares of the company’s stock, valued at approximately $104,707,419.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,029,347 shares of company stock valued at $100,594,226. Corporate insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Cloudflare during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in Cloudflare during the fourth quarter valued at $38,000. GAMMA Investing LLC purchased a new position in shares of Cloudflare in the 4th quarter worth $39,000. Finally, Pingora Partners LLC bought a new stake in shares of Cloudflare in the 4th quarter worth about $42,000. 82.68% of the stock is owned by institutional investors.

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.