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

Cloudflare (NYSE:NET - Get Free Report) had its price target reduced by equities researchers at Mizuho from $160.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price target would suggest a potential upside of 21.82% from the company's current price.

A number of other equities research analysts also recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Piper Sandler cut their price objective on Cloudflare from $153.00 to $131.00 and set a "neutral" rating for the company in a report on Thursday. Morgan Stanley increased their target price on Cloudflare from $130.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $133.00.

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Cloudflare Stock Down 3.7 %

Shares of NET stock traded down $4.47 during mid-day trading on Thursday, hitting $114.93. The company's stock had a trading volume of 1,395,055 shares, compared to its average volume of 3,008,897. 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 has a 52-week low of $66.24 and a 52-week high of $177.37. The stock has a market cap of $39.66 billion, a price-to-earnings ratio of -528.49 and a beta of 1.27. The business has a 50-day moving average price of $136.44 and a 200 day moving average price of $108.28.

Cloudflare (NYSE:NET - Get Free Report) last posted 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%. Research analysts predict that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company's stock, valued at $1,216,106. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,766 shares of company stock valued at $73,804,307. Corporate insiders own 12.83% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare in the 3rd quarter valued at $25,588,000. Hartline Investment Corp grew its stake in Cloudflare by 1.5% during the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock valued at $28,464,000 after purchasing an additional 3,957 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after purchasing an additional 29,960 shares during the period. Birchcreek Wealth Management LLC purchased a new position in shares of Cloudflare in the fourth quarter worth about $215,000. Finally, Strategic Blueprint LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth about $265,000. Institutional investors and hedge funds 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.

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