UBS Group Issues Pessimistic Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET - Get Free Report) had its price objective dropped by equities researchers at UBS Group from $165.00 to $135.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 16.77% from the company's current price.

A number of other equities analysts have also recently weighed in on NET. Susquehanna boosted their price target on Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Piper Sandler cut their target price on shares of Cloudflare from $153.00 to $131.00 and set a "neutral" rating for the company in a research note on Thursday. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Robert W. Baird reiterated a "neutral" rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $131.80.

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Cloudflare Price Performance

NYSE NET traded down $3.78 during trading hours on Thursday, reaching $115.62. The company's stock had a trading volume of 1,820,218 shares, compared to its average volume of 3,009,632. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market cap of $39.90 billion, a PE ratio of -525.63 and a beta of 1.27. The company's 50-day moving average is $136.44 and its two-hundred day moving average is $108.28. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) 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%. Analysts forecast that Cloudflare will post -0.11 EPS for the current year.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 252,869 shares of the company's stock, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 571,766 shares of company stock worth $73,804,307. 12.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. CreativeOne Wealth LLC grew its stake in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock valued at $752,000 after purchasing an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after acquiring an additional 94 shares in the last quarter. Baxter Bros Inc. raised its holdings in Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock valued at $296,000 after acquiring an additional 100 shares in the last quarter. Finally, Ellevest Inc. boosted its stake in Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock valued at $489,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds 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.

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