Cloudflare, Inc. (NYSE:NET – Get Rating) gapped down before the market opened on Wednesday after Morgan Stanley lowered their price target on the stock from $52.00 to $47.00. The stock had previously closed at $46.67, but opened at $44.11. Morgan Stanley currently has an equal weight rating on the stock. Cloudflare shares last traded at $43.73, with a volume of 711,294 shares trading hands.

Several other brokerages also recently issued reports on NET. Cowen dropped their target price on shares of Cloudflare from $100.00 to $75.00 in a research note on Friday, November 4th. Robert W. Baird dropped their target price on shares of Cloudflare from $80.00 to $67.00 in a research note on Friday, November 4th. Macquarie started coverage on shares of Cloudflare in a research note on Wednesday, November 2nd. They issued a "neutral" rating and a $60.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Cloudflare from $74.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, November 4th. Finally, Credit Suisse Group dropped their target price on shares of Cloudflare from $125.00 to $95.00 and set an "outperform" rating on the stock in a research note on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $75.13.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 20,000 shares of the company's stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the completion of the sale, the chief financial officer now directly owns 86,433 shares of the company's stock, valued at $3,524,737.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, General Counsel Douglas James Kramer sold 4,500 shares of the firm's stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $55.99, for a total transaction of $251,955.00. Following the sale, the general counsel now directly owns 62,299 shares in the company, valued at approximately $3,488,121.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 20,000 shares of the firm's stock in a transaction on Monday, November 7th. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the sale, the chief financial officer now owns 86,433 shares in the company, valued at $3,524,737.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 495,785 shares of company stock valued at $22,885,776. Insiders own 15.99% of the company's stock.

Institutional Trading of Cloudflare

Cloudflare Stock Down 1.1 %

The company has a market capitalization of $15.17 billion, a PE ratio of -65.94 and a beta of 1.03. The company's 50 day moving average is $45.52 and its two-hundred day moving average is $53.16. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 2.42.

Cloudflare (NYSE:NET – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.02. Cloudflare had a negative net margin of 25.16% and a negative return on equity of 27.82%. The business had revenue of $253.86 million during the quarter, compared to analysts' expectations of $250.20 million. On average, analysts anticipate that Cloudflare, Inc. will post -0.4 earnings per share for the current year.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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