Cloudflare (NYSE:NET) Price Target Cut to $144.00 by Analysts at Morgan Stanley

Cloudflare (NYSE:NET - Get Free Report) had its price objective decreased by analysts at Morgan Stanley from $154.00 to $144.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 40.80% from the stock's current price.

A number of other analysts have also recently weighed in on NET. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Needham & Company LLC reduced their price objective on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus increased their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, February 7th. UBS Group decreased their price objective on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Wells Fargo & Company lifted their target price on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $134.84.

Cloudflare Stock Down 5.2 %

Shares of NET traded down $5.63 during mid-day trading on Wednesday, hitting $102.27. 2,370,490 shares of the company's stock were exchanged, compared to its average volume of 3,179,131. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock's 50-day moving average is $126.73 and its 200-day moving average is $114.70. The company has a market cap of $35.29 billion, a price-to-earnings ratio of -464.86 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 analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, sell-side analysts anticipate that Cloudflare will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 31,136 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $30,369,566.90. This trade represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at $20,824,263.60. This trade represents a 12.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 579,389 shares of company stock worth $74,559,343. Corporate insiders own 12.83% of the company's stock.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently made changes to their positions in the business. Capital World Investors boosted its position in shares of Cloudflare by 0.7% in the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock worth $3,812,942,000 after buying an additional 260,415 shares during the period. Geode Capital Management LLC lifted its position in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after acquiring an additional 68,661 shares in the last quarter. Groupama Asset Managment purchased a new position in Cloudflare in the 4th quarter worth approximately $269,200,000. Norges Bank acquired a new stake in Cloudflare in the fourth quarter valued at approximately $249,544,000. Finally, American Century Companies Inc. raised its stake in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. 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.