Cloudflare (NYSE:NET) Given New $112.00 Price Target at Piper Sandler

Cloudflare (NYSE:NET - Free Report) had its price objective trimmed by Piper Sandler from $131.00 to $112.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also weighed in on the company. JMP Securities raised their price objective on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Oppenheimer assumed coverage on shares of Cloudflare in a research note on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target on the stock. The Goldman Sachs Group lowered their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a report on Friday, March 14th. Cantor Fitzgerald boosted their target price on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $134.88.

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Cloudflare Stock Up 0.4 %

NYSE:NET traded up $0.44 during trading hours on Tuesday, reaching $105.94. The company's stock had a trading volume of 3,131,743 shares, compared to its average volume of 3,186,799. Cloudflare has a 12 month low of $66.24 and a 12 month high of $177.37. The stock has a 50 day moving average price of $131.85 and a two-hundred day moving average price of $113.49. The company has a market capitalization of $36.56 billion, a P/E ratio of -481.56 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts predict that Cloudflare will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 2,311 shares of Cloudflare stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at $44,545,250.75. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 561,973 shares of company stock worth $73,056,260. 12.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new position in shares of Cloudflare during the 1st quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the period. Quarry LP boosted its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $43,000. Finally, Global Financial Private Client LLC increased its holdings in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after purchasing an additional 381 shares in the last quarter. 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.