Cloudflare (NYSE:NET) PT Lowered to $105.00 at Wells Fargo & Company

Cloudflare (NYSE:NET) had its price objective cut by Wells Fargo & Company from $125.00 to $105.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. TD Cowen lowered their price objective on shares of Cloudflare from $117.00 to $110.00 and set a buy rating on the stock in a research report on Friday. Capital One Financial assumed coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an equal weight rating and a $83.00 price target on the stock. KeyCorp lifted their price objective on shares of Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their target price on Cloudflare from $90.00 to $80.00 and set a neutral rating on the stock in a research report on Friday. Finally, Oppenheimer dropped their price objective on Cloudflare from $122.00 to $110.00 and set an outperform rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $90.17.

Cloudflare Stock Down 16.4 %

Shares of Cloudflare stock opened at $74.40 on Friday. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare has a 52 week low of $39.90 and a 52 week high of $116.00. The business has a 50 day moving average price of $93.67 and a 200-day moving average price of $83.75.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Equities research analysts predict that Cloudflare will post -0.2 earnings per share for the current year.

Insider Activity

In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the completion of the sale, the director now directly owns 1,446,957 shares in the company, valued at $117,811,238.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michelle Zatlyn sold 277,376 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the sale, the chief operating officer now owns 38,545 shares in the company, valued at approximately $3,899,597.65. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 7,962 shares of the stock in a transaction dated Wednesday, February 7th. The stock was 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 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. In the last 90 days, 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.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $221,858,000. 1832 Asset Management L.P. boosted its holdings in Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after acquiring an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after acquiring an additional 487,308 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in shares of Cloudflare in the 1st quarter worth about $37,740,000. Hedge funds and other institutional investors 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.