Mizuho Has Lowered Expectations for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its price objective decreased by stock analysts at Mizuho from $160.00 to $140.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 20.87% from the company’s current price.

NET has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Piper Sandler lowered their price objective on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday. UBS Group boosted their target price on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Morgan Stanley boosted their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average target price of $130.04.

Cloudflare Trading Up 1.9 %

Shares of NYSE:NET opened at $115.83 on Thursday. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a market cap of $39.97 billion, a PE ratio of -526.50 and a beta of 1.27. The company’s 50-day moving average price is $136.45 and its 200 day moving average price is $108.31. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released 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 return on equity of 5.52% and a negative net margin of 4.72%. 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 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 571,766 shares of company stock valued at $73,804,307. 12.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NET. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the 4th quarter valued at approximately $43,000. Quarry LP raised its holdings in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $56,000. Larson Financial Group LLC raised 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 valued at $58,000 after purchasing an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc raised 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 valued at $59,000 after purchasing an additional 170 shares during the last quarter. 82.68% of the stock is currently 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.