Wall Street Zen downgraded shares of Cloudflare (NYSE:NET – Free Report) from a buy rating to a hold rating in a report released on Sunday,Wall Street Zen reports.
NET has been the subject of a number of other research reports. Susquehanna lifted their target price on shares of Cloudflare from $200.00 to $300.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. BTIG Research lifted their price objective on Cloudflare from $314.00 to $382.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Truist Financial upped their target price on Cloudflare from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $389.00 target price on shares of Cloudflare in a report on Friday, August 7th. Finally, Benchmark downgraded Cloudflare to an “underperform” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.19.
Check Out Our Latest Stock Report on NET
Cloudflare Stock Up 2.0%
Cloudflare (NYSE:NET – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The business had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. During the same quarter last year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. Analysts predict that Cloudflare will post 0.03 EPS for the current fiscal year.
Insider Activity at Cloudflare
In related news, CEO Matthew Prince sold 52,422 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total transaction of $13,057,795.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michelle Zatlyn sold 33,003 shares of Cloudflare stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $294.63, for a total transaction of $9,723,673.89. Following the completion of the sale, the insider directly owned 69,775 shares of the company’s stock, valued at $20,557,808.25. The trade was a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 706,244 shares of company stock valued at $186,761,866. Company insiders own 10.66% of the company’s stock.
Institutional Investors Weigh In On Cloudflare
A number of hedge funds and other institutional investors have recently made changes to their positions in NET. HM Payson & Co. purchased a new position in Cloudflare during the fourth quarter worth about $25,000. Wiser Advisor Group LLC purchased a new stake in Cloudflare in the 3rd quarter valued at about $26,000. Cornerstone Financial Management LLC grew its holdings in Cloudflare by 65.3% in the 2nd quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock valued at $29,000 after buying an additional 47 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Cloudflare during the 2nd quarter valued at about $30,000. Finally, Wexford Capital LP acquired a new position in shares of Cloudflare during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.
About Cloudflare
Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.
The company’s offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.
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