Cloudflare (NYSE:NET) PT Lowered to $94.00 at Robert W. Baird

Cloudflare (NYSE:NET) had its price target lowered by Robert W. Baird from $100.00 to $94.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also issued reports on NET. DZ Bank lowered Cloudflare from a buy rating to a hold rating and set a $110.00 price objective for the company. in a research note on Tuesday, February 13th. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 target price for the company. Capital One Financial assumed coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an equal weight rating and a $83.00 price target on the stock. Susquehanna raised their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a report on Friday, February 9th. Finally, Royal Bank of Canada boosted their target price on Cloudflare from $95.00 to $108.00 and gave the stock an outperform rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $90.13.

Cloudflare Price Performance

Shares of Cloudflare stock traded down $0.10 during trading on Friday, hitting $74.30. 6,403,901 shares of the company’s stock traded hands, compared to its average volume of 3,950,150. Cloudflare has a twelve month low of $44.60 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The company has a market cap of $25.09 billion, a PE ratio of -141.34 and a beta of 1.15. The firm’s fifty day moving average price is $93.67 and its 200 day moving average price is $83.75.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Analysts forecast that Cloudflare will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $99.64, for a total value of $298,920.00. Following the completion of the sale, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $20,449,914.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Carl Ledbetter sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $87.49, for a total transaction of $701,844.78. Following the sale, the director now owns 1,196,793 shares of the company’s stock, valued at $104,707,419.57. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.64, for a total value of $298,920.00. Following the completion of the transaction, the insider now owns 205,238 shares of the company’s stock, valued at $20,449,914.32. The disclosure for this sale can be found here. Insiders sold a total of 1,029,347 shares of company stock valued at $100,594,226 over the last three months. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

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