Cloudflare (NYSE:NET) Given New $161.00 Price Target at The Goldman Sachs Group

Cloudflare (NYSE:NET) had its price target reduced by equities researchers at The Goldman Sachs Group from $183.00 to $161.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 39.51% from the stock’s current price.

Several other research firms have also weighed in on NET. Guggenheim boosted their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Susquehanna boosted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, UBS Group cut their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday. Four 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $130.04.

Cloudflare Stock Up 1.5 %

Shares of Cloudflare stock traded up $1.70 during trading on Friday, hitting $115.40. 1,747,978 shares of the stock traded hands, compared to its average volume of 3,018,053. The stock has a market cap of $39.82 billion, a P/E ratio of -524.75 and a beta of 1.27. The company has a fifty day moving average price of $136.45 and a two-hundred day moving average price of $108.31. 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 twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts predict that Cloudflare will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 value of $5,785,719.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 571,766 shares of company stock valued at $73,804,307. Insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of the business. Apollon Wealth Management LLC raised its position in shares of Cloudflare by 9.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company’s stock valued at $252,000 after acquiring an additional 269 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Cloudflare by 5.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company’s stock valued at $543,000 after purchasing an additional 338 shares during the last quarter. Aigen Investment Management LP acquired a new position in Cloudflare in the third quarter valued at about $361,000. Main Street Financial Solutions LLC grew its position in shares of Cloudflare by 15.3% during the 3rd quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company’s stock worth $240,000 after buying an additional 392 shares during the period. Finally, KBC Group NV increased its stake in shares of Cloudflare by 0.9% in the 3rd quarter. KBC Group NV now owns 37,237 shares of the company’s stock valued at $3,012,000 after acquiring an additional 329 shares during the last quarter. 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.