Cloudflare (NYSE:NET) Price Target Lowered to $140.00 at Susquehanna

Cloudflare (NYSE:NET) had its price objective lowered by Susquehanna from $170.00 to $140.00 in a report issued on Monday morning,Benzinga reports. Susquehanna currently has a neutral rating on the stock.

NET has been the subject of several other reports. Mizuho upgraded Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Wednesday, April 16th. Capital One Financial raised shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. JMP Securities boosted their price target on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, Oppenheimer increased their price objective on shares of Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $141.79.

Cloudflare Stock Up 2.2%

NET opened at $153.68 on Monday. Cloudflare has a one year low of $66.24 and a one year 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 business’s fifty day moving average is $116.93 and its two-hundred day moving average is $118.80. The company has a market cap of $53.03 billion, a price-to-earnings ratio of -698.55 and a beta of 1.78.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the company posted $0.16 EPS. Cloudflare’s quarterly revenue was up 26.5% compared to the same quarter last year. Analysts anticipate that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Activity

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the sale, the insider now owns 188,406 shares of the company’s stock, valued at $21,257,848.98. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 492,492 shares of company stock worth $63,757,685 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently made changes to their positions in NET. Mather Group LLC. lifted its position in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new position in Cloudflare during the first quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock valued at $29,000 after acquiring an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after buying an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors 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.