Cloudflare (NYSE:NET) Given “Neutral” Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Cloudflare (NYSE:NET) in a report published on Friday morning, Benzinga reports. Piper Sandler currently has a $81.00 price objective on the stock, down from their previous price objective of $110.00.

A number of other research firms have also recently weighed in on NET. Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $53.00 to $90.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Mizuho lowered their price objective on shares of Cloudflare from $95.00 to $88.00 and set a neutral rating for the company in a research note on Friday. Royal Bank of Canada upped their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald restated a neutral rating and issued a $100.00 price target on shares of Cloudflare in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of Hold and a consensus target price of $90.17.

Cloudflare Trading Down 16.4 %

Cloudflare stock traded down $14.57 during mid-day trading on Friday, hitting $74.40. The company’s stock had a trading volume of 18,650,549 shares, compared to its average volume of 2,884,762. The stock’s fifty day moving average is $93.67 and its two-hundred day moving average is $83.47. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $25.12 billion, a PE ratio of -140.60 and a beta of 1.15. Cloudflare has a 1 year low of $39.90 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. On average, analysts anticipate that Cloudflare will post -0.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Carl Ledbetter sold 7,962 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total value of $648,266.04. Following the transaction, the director now owns 1,446,957 shares in the company, valued at approximately $117,811,238.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Douglas James Kramer sold 6,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the sale, the insider now owns 216,114 shares in the company, valued at $23,789,829.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 7,962 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total value of $648,266.04. Following the transaction, the director now directly owns 1,446,957 shares of the company’s stock, valued at $117,811,238.94. The disclosure for this sale can be found here. Insiders sold a total of 1,029,347 shares of company stock worth $100,594,226 in the last 90 days. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new position in Cloudflare in the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Cloudflare in the fourth quarter valued at $38,000. GAMMA Investing LLC acquired a new position in shares of Cloudflare during the 4th quarter worth $39,000. Finally, Pingora Partners LLC acquired a new stake in Cloudflare in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.