Jefferies Financial Group Lowers Cloudflare (NYSE:NET) Price Target to $150.00

Cloudflare (NYSE:NET - Free Report) had its price objective lowered by Jefferies Financial Group from $170.00 to $150.00 in a research note published on Friday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities analysts have also weighed in on NET. Needham & Company LLC cut their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Baird R W lowered Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Piper Sandler lowered their price target on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $141.79.

Cloudflare Stock Up 7.6%

Shares of NYSE:NET traded up $10.01 during midday trading on Friday, hitting $142.35. 5,049,263 shares of the stock were exchanged, compared to its average volume of 3,114,004. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare has a 52-week low of $66.24 and a 52-week high of $177.37. The business's fifty day simple moving average is $115.99 and its two-hundred day simple moving average is $118.33. The company has a market capitalization of $49.12 billion, a PE ratio of -647.03 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. During the same quarter last year, the business earned $0.16 earnings per share. Cloudflare's quarterly revenue was up 26.5% on a year-over-year basis. As a group, research analysts predict that Cloudflare will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. The trade was a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michelle Zatlyn sold 35,099 shares of Cloudflare stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold 492,492 shares of company stock worth $63,757,685 in the last quarter. Insiders own 12.83% of the company's stock.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in NET. Mather Group LLC. boosted its stake in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. acquired a new position in shares of Cloudflare during the 1st quarter worth about $27,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cloudflare in the 4th quarter valued at about $43,000. Institutional investors and hedge funds 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.