Susquehanna Cuts Cloudflare (NYSE:NET) Price Target to $140.00

Cloudflare (NYSE:NET) had its target price cut by Susquehanna from $170.00 to $140.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

NET has been the topic of a number of other research reports. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. CICC Research raised shares of Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price objective for the company in a research report on Monday. Jefferies Financial Group lowered their price target on Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $151.00 price objective (up from $112.00) on shares of Cloudflare in a report on Friday, May 9th. Finally, Oppenheimer upped their target price on Cloudflare from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $141.79.

Cloudflare Stock Performance

NYSE:NET opened at $153.68 on Monday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market capitalization of $53.03 billion, a PE ratio of -698.55 and a beta of 1.78. 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 stock’s fifty day moving average is $116.93 and its 200 day moving average is $118.80.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Cloudflare’s revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. On average, sell-side analysts anticipate that Cloudflare will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $124.16, for a total value of $372,480.00. Following the transaction, the insider now owns 185,406 shares of the company’s stock, valued at $23,020,008.96. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold a total of 492,492 shares of company stock worth $63,757,685 in the last ninety days. Insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of the company. Mather Group LLC. grew its stake in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after acquiring an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC grew its position in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter worth approximately $43,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.