UBS Group Issues Pessimistic Forecast for Cloudflare (NYSE:NET) Stock Price

Cloudflare (NYSE:NET) had its price target dropped by UBS Group from $165.00 to $135.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 16.55% from the company’s previous close.

A number of other brokerages have also recently issued reports on NET. Morgan Stanley lifted 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. Truist Financial boosted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $130.04.

Cloudflare Stock Up 1.9 %

Shares of NYSE NET opened at $115.83 on Thursday. 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 has a 52 week low of $66.24 and a 52 week high of $177.37. The firm has a 50-day moving average price of $136.45 and a 200 day moving average price of $108.31. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of -526.50 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Cloudflare will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $28,503,393.68. This represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 completion of the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 571,766 shares of company stock worth $73,804,307. Insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its stake in Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after buying an additional 260,415 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock worth $526,986,000 after buying an additional 68,661 shares during the last quarter. Groupama Asset Managment acquired a new position in Cloudflare in the fourth quarter worth approximately $269,200,000. Norges Bank acquired a new position in Cloudflare in the fourth quarter worth approximately $249,544,000. Finally, American Century Companies Inc. grew its holdings in Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.