Cloudflare (NYSE:NET) Price Target Lowered to $135.00 at UBS Group

Cloudflare (NYSE:NET) had its price target trimmed by UBS Group from $165.00 to $135.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also issued reports on NET. Susquehanna increased their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Guggenheim increased their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Royal Bank of Canada increased their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group increased their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock 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 issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average price target of $130.92.

Cloudflare Price Performance

NYSE:NET opened at $113.38 on Thursday. Cloudflare has a one year low of $66.24 and a one year high of $177.37. 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 firm has a market cap of $39.12 billion, a price-to-earnings ratio of -515.35 and a beta of 1.27. The firm’s fifty day moving average is $136.44 and its two-hundred day moving average is $108.28.

Cloudflare (NYSE:NET) last posted 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%. Research analysts expect that Cloudflare will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,216,106. This represents a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 571,766 shares of company stock worth $73,804,307. Insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several hedge funds have recently made changes to their positions in the company. CreativeOne Wealth LLC grew its stake in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after buying an additional 58 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after buying an additional 94 shares during the period. Baxter Bros Inc. grew its stake in shares of Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after buying an additional 100 shares during the period. Finally, Ellevest Inc. grew its stake in shares of Cloudflare by 2.3% in the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after buying an additional 102 shares during the period. Hedge funds and other institutional investors 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.