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

Cloudflare (NYSE:NET) had its price objective lowered by Susquehanna from $170.00 to $140.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential downside of 1.72% from the company’s previous close.

NET has been the subject of a number of other reports. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Tuesday, February 11th. CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price objective on the stock in a research note on Monday. JMP Securities lifted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, Mizuho raised shares of Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.79.

Cloudflare Price Performance

Shares of NET stock traded up $10.12 during trading hours on Monday, hitting $142.46. 3,465,229 shares of the company’s stock were exchanged, compared to its average volume of 3,108,077. Cloudflare has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market cap of $49.16 billion, a P/E ratio of -647.22 and a beta of 1.78. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a 50 day moving average of $116.02 and a two-hundred day moving average of $117.96.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) 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 analysts’ expectations of $469.49 million. During the same period in the previous year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. Sell-side analysts forecast that Cloudflare will post -0.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total value of $372,480.00. Following the completion of the transaction, the insider now directly owns 185,406 shares of the company’s stock, valued at $23,020,008.96. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders sold 492,492 shares of company stock worth $63,757,685 in the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of NET. Mather Group LLC. raised its holdings in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter worth approximately $27,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in 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 buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Cloudflare in the 4th quarter valued at $43,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.