Cloudflare (NYSE:NET) Given New $140.00 Price Target at Mizuho

Cloudflare (NYSE:NET) had its target price reduced by Mizuho from $160.00 to $140.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Scotiabank boosted their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a report on Tuesday, February 11th. Finally, Truist Financial upped their target price on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $130.92.

Cloudflare Stock Down 5.0 %

NET opened at $113.38 on Thursday. The company has a market cap of $39.12 billion, a P/E ratio of -515.35 and a beta of 1.27. The business’s 50-day moving average price is $136.44 and its 200-day moving average price is $108.28. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly 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, equities analysts expect that Cloudflare will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, 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. In the last three months, insiders have sold 571,766 shares of company stock valued at $73,804,307. 12.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently modified their holdings of NET. Apollon Wealth Management LLC lifted its holdings in shares of Cloudflare by 9.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after buying an additional 269 shares during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Cloudflare during the 3rd quarter valued at $403,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of Cloudflare by 5.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after buying an additional 338 shares during the period. Aigen Investment Management LP bought a new position in shares of Cloudflare during the 3rd quarter valued at $361,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of Cloudflare by 15.3% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company’s stock valued at $240,000 after buying an additional 392 shares during the period. 82.68% of the stock is owned by institutional investors.

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.