Cloudflare (NYSE:NET) Given New $80.00 Price Target at Susquehanna

Cloudflare (NYSE:NET) had its target price cut by Susquehanna from $115.00 to $80.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also commented on NET. JMP Securities lifted their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a market outperform rating in a report on Wednesday, January 31st. Morgan Stanley increased their price target on Cloudflare from $66.00 to $92.00 and gave the stock an equal weight rating in a research report on Monday, February 12th. TD Cowen reduced their price objective on Cloudflare from $117.00 to $110.00 and set a buy rating for the company in a research report on Friday, May 3rd. UBS Group dropped their target price on Cloudflare from $88.00 to $76.00 and set a sell rating on the stock in a research report on Friday, May 3rd. Finally, Truist Financial boosted their price target on shares of Cloudflare from $90.00 to $120.00 and gave the company a buy rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $90.57.

Cloudflare Trading Up 1.2 %

NYSE:NET opened at $73.34 on Monday. Cloudflare has a 52 week low of $47.79 and a 52 week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market cap of $24.76 billion, a PE ratio of -138.38 and a beta of 1.15. The business’s 50 day moving average is $91.68 and its two-hundred day moving average is $83.78.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, analysts predict that Cloudflare will post -0.2 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, Director Carl Ledbetter sold 30,145 shares of Cloudflare stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $72.86, for a total value of $2,196,364.70. Following the transaction, the director now owns 1,166,648 shares in the company, valued at $85,001,973.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Carl Ledbetter sold 30,145 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $72.86, for a total value of $2,196,364.70. Following the completion of the transaction, the director now owns 1,166,648 shares in the company, valued at approximately $85,001,973.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $72.51, for a total value of $3,798,363.84. Following the sale, the chief executive officer now owns 230,612 shares in the company, valued at approximately $16,721,676.12. The disclosure for this sale can be found here. Insiders have sold 1,115,298 shares of company stock worth $104,795,772 in the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

Several large investors have recently added to or reduced their stakes in the company. Cigna Investments Inc. New boosted its position in Cloudflare by 4.2% during the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after acquiring an additional 129 shares during the period. Yousif Capital Management LLC grew its position in Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after purchasing an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after buying an additional 132 shares during the period. Quent Capital LLC lifted its position in Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after buying an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Cloudflare by 34.4% during the 1st quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after acquiring an additional 171 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.