Cloudflare (NYSE:NET) Price Target Cut to $135.00 by Analysts at UBS Group

Cloudflare (NYSE:NET) had its target price lowered by stock analysts at UBS Group from $165.00 to $135.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 16.77% from the stock’s current price.

A number of other brokerages have also recently weighed in on NET. Mizuho dropped their price target on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday. Stifel Nicolaus increased their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JMP Securities boosted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Needham & Company LLC lowered their price target on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare has an average rating of “Hold” and a consensus price target of $131.80.

Cloudflare Stock Performance

Cloudflare stock traded down $3.78 during mid-day trading on Thursday, reaching $115.62. The company’s stock had a trading volume of 1,820,218 shares, compared to its average volume of 3,009,632. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare has a twelve month low of $66.24 and a twelve month high of $177.37. The business has a 50 day moving average price of $136.44 and a 200-day moving average price of $108.28. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of -525.63 and a beta of 1.27.

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%. Sell-side analysts predict that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of Cloudflare 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 owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $59,961,421.52. The trade was a 11.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 571,766 shares of company stock valued at $73,804,307. Corporate insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Apollon Wealth Management LLC lifted its position in shares of Cloudflare by 9.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after acquiring an additional 269 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Cloudflare during the 3rd quarter valued at $403,000. Prime Capital Investment Advisors LLC raised its stake in Cloudflare by 5.3% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after purchasing an additional 338 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Cloudflare in the third quarter valued at $361,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of Cloudflare by 15.3% in the third quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company’s stock worth $240,000 after buying an additional 392 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.