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

Cloudflare (NYSE:NET) had its price objective cut by research analysts at Mizuho from $160.00 to $140.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 21.82% from the company’s previous close.

A number of other analysts have also issued reports on the company. Robert W. Baird reissued a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Guggenheim raised their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Susquehanna increased their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $133.00.

Cloudflare Price Performance

Shares of NYSE:NET traded down $4.47 during midday trading on Thursday, hitting $114.93. The company 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 current ratio of 3.37 and a quick ratio of 3.37. Cloudflare has a twelve month low of $66.24 and a twelve month high of $177.37. The business’s 50-day simple moving average is $136.44 and its 200-day simple moving average is $108.28. The stock has a market cap of $39.66 billion, a price-to-earnings ratio of -528.49 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, research analysts predict that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade 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 link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 571,766 shares of company stock valued at $73,804,307 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Apollon Wealth Management LLC lifted its stake in shares of Cloudflare by 9.4% during the third 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 acquired a new stake in shares of Cloudflare during the third quarter worth $403,000. Prime Capital Investment Advisors LLC grew its position in shares of Cloudflare by 5.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after purchasing an additional 338 shares during the period. Aigen Investment Management LP purchased a new position in Cloudflare during the third quarter worth about $361,000. Finally, Main Street Financial Solutions LLC boosted its stake in Cloudflare by 15.3% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company’s stock worth $240,000 after buying an additional 392 shares during the last quarter. Hedge funds and other institutional investors 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.