Cantor Fitzgerald Cuts Cloudflare (NYSE:NET) Price Target to $80.00

Cloudflare (NYSE:NET) had its target price decreased by Cantor Fitzgerald from $100.00 to $80.00 in a research report report published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on the company. Piper Sandler reiterated a neutral rating and issued a $81.00 price target (down from $110.00) on shares of Cloudflare in a research note on Friday. Morgan Stanley boosted their price target on Cloudflare from $66.00 to $92.00 and gave the stock an equal weight rating in a report on Monday, February 12th. Mizuho cut their target price on shares of Cloudflare from $95.00 to $88.00 and set a neutral rating on the stock in a research report on Friday. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a report on Friday, February 9th. Finally, KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an overweight rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $90.13.

Cloudflare Price Performance

Shares of NET stock opened at $74.29 on Friday. Cloudflare has a twelve month low of $44.60 and a twelve month 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 business has a fifty day simple moving average of $93.17 and a 200 day simple moving average of $83.83. The company has a market cap of $25.08 billion, a P/E ratio of -140.17 and a beta of 1.15.

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

Insider Activity

In related news, Director Carl Ledbetter sold 7,962 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the transaction, the director now directly owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cloudflare news, Director Carl Ledbetter sold 7,962 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total transaction of $648,266.04. Following the transaction, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at $40,351,461.15. The disclosure for this sale can be found here. Insiders sold a total of 1,044,347 shares of company stock worth $101,703,776 in the last three months. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in Cloudflare in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Cloudflare during the fourth quarter worth about $38,000. GAMMA Investing LLC bought a new stake in Cloudflare in the 4th quarter worth about $39,000. Finally, Pingora Partners LLC purchased a new stake in Cloudflare in the 4th quarter valued at about $42,000. 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.