Cloudflare (NYSE:NET) Price Target Lowered to $95.00 at Mizuho

Cloudflare (NYSE:NET) had its target price dropped by equities researchers at Mizuho from $105.00 to $95.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 1.32% from the company’s current price.

Several other equities analysts also recently weighed in on NET. Wells Fargo & Company increased their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Needham & Company LLC raised their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Capital One Financial assumed coverage on shares of Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective (up previously from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Finally, DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given 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 $87.08.

Cloudflare Trading Down 2.4 %

NYSE NET opened at $93.76 on Monday. Cloudflare has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a fifty day simple moving average of $96.46 and a two-hundred day simple moving average of $81.16. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The stock has a market cap of $31.66 billion, a P/E ratio of -170.47 and a beta of 1.13.

Cloudflare (NYSE:NET) last issued its quarterly 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 company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, analysts forecast that Cloudflare will post -0.2 earnings per share for the current year.

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now owns 243,495 shares in the company, valued at $18,926,866.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the sale, the chief financial officer now directly owns 243,495 shares of the company’s stock, valued at approximately $18,926,866.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Insiders sold 1,113,937 shares of company stock worth $106,926,869 over the last ninety days. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the period. Capital World Investors increased its holdings in Cloudflare by 1.8% in the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after purchasing an additional 487,308 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the period. State Street Corp lifted its stake in Cloudflare by 5.3% during the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after purchasing an additional 278,422 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Cloudflare by 4.0% during the first quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock worth $233,843,000 after buying an additional 146,503 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.