Cloudflare (NYSE:NET) Given New $140.00 Price Target at Mizuho

Cloudflare (NYSE:NET) had its price target decreased by Mizuho from $160.00 to $140.00 in a research note issued to investors on Thursday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

NET has been the subject of a number of other reports. UBS Group increased their price target on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Finally, Cantor Fitzgerald raised their target price on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $130.92.

Cloudflare Stock Performance

Shares of NET opened at $113.38 on Thursday. 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 company has a market capitalization of $39.12 billion, a price-to-earnings ratio of -515.35 and a beta of 1.27. The stock has a 50 day moving average of $136.44 and a 200 day moving average of $108.28. Cloudflare has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,503,393.68. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 571,766 shares of company stock valued at $73,804,307. Company insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare during the fourth quarter worth about $43,000. Quarry LP lifted its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Cloudflare during the fourth quarter worth about $56,000. Larson Financial Group LLC increased its holdings in shares of 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 during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.

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.