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

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

A number of other analysts have also weighed in on the company. Needham & Company LLC lowered their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Wells Fargo & Company raised their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Mizuho cut their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Piper Sandler cut their price objective on Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $130.04.

Cloudflare Stock Up 1.9 %

Shares of NET stock opened at $115.83 on Thursday. The stock has a market cap of $39.97 billion, a P/E ratio of -526.50 and a beta of 1.27. Cloudflare has a one year low of $66.24 and a one year high of $177.37. The stock has a fifty day moving average price of $136.45 and a 200 day moving average price of $108.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Analysts predict that Cloudflare will post -0.11 earnings per share for the current year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. This represents a 5.60 % 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 Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 571,766 shares of company stock worth $73,804,307. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock worth $3,812,942,000 after purchasing an additional 260,415 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after buying an additional 68,661 shares in the last quarter. Groupama Asset Managment acquired a new stake in Cloudflare in the fourth quarter valued at about $269,200,000. Norges Bank acquired a new stake in shares of Cloudflare during the fourth quarter valued at about $249,544,000. Finally, American Century Companies Inc. boosted its stake in shares of 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 in the last quarter. 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.