Cloudflare (NYSE:NET) Price Target Lowered to $145.00 at Needham & Company LLC

Cloudflare (NYSE:NET) had its target price cut by equities researchers at Needham & Company LLC from $185.00 to $145.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 21.66% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. UBS Group raised their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Susquehanna increased their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $133.80.

Cloudflare Stock Down 0.7 %

NET stock opened at $119.18 on Thursday. The stock has a market capitalization of $41.13 billion, a P/E ratio of -541.73 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $136.44 and a 200-day moving average price of $108.28. Cloudflare has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last posted its 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%. As a group, equities research analysts anticipate that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction dated 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 $23,131,082.08. The trade was a 1.39 % decrease in their position. 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 quarter. 12.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Cloudflare

A number of hedge funds have recently made changes to their positions in NET. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the fourth quarter valued at about $43,000. Quarry LP raised its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Cloudflare in the 4th quarter worth approximately $56,000. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the last quarter. 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.