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

Cloudflare (NYSE:NET) had its price target lowered by analysts at Susquehanna from $115.00 to $80.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential upside of 7.93% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. TD Cowen reduced their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. JMP Securities lifted their target price on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their target price on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Morgan Stanley lifted their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.48.

Cloudflare Trading Down 0.2 %

Shares of Cloudflare stock opened at $74.12 on Monday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm has a market cap of $25.03 billion, a price-to-earnings ratio of -139.85 and a beta of 1.15. Cloudflare has a twelve month low of $44.60 and a twelve month high of $116.00. The business has a 50-day moving average price of $92.69 and a 200-day moving average price of $83.93.

Cloudflare (NYSE:NET) last released 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. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities research analysts anticipate that Cloudflare will post -0.2 EPS for the current fiscal year.

Insider Activity

In related news, insider Douglas James Kramer sold 6,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company’s stock, valued at $23,789,829.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Douglas James Kramer sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $23,789,829.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares of the company’s stock, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,036,385 shares of company stock worth $101,055,510. Company insiders own 12.83% of the company’s stock.

Hedge Funds Weigh In On Cloudflare

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