Analysts Are Cutting Price Targets of These 5 Stocks

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In this article, we discuss the 5 stocks receiving price-target cuts from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Cutting Price Targets of These 10 Stocks.

5. Cloudflare, Inc. (NYSE:NET)

Number of Hedge Fund Holders: 53

Content delivery network Cloudflare, Inc. (NYSE:NET) went public in September 2019 after pricing its shares at $15 apiece. The stock achieved massive gains during the first year following its IPO. It hit an all-time high of about $220 in November 2021.

However, Cloudflare, Inc. (NYSE:NET) shares have been dropping since then. It is currently trading at a price of around $46. The company recently came into the limelight after receiving a price-target cut from Piper Sandler.

The research firm lowered its price target for Cloudflare, Inc. (NYSE:NET) from $58 per share to $46 per share on Tuesday, January 17. Analyst James Fish revised the estimates for the cloud automation software segment ahead of earnings.

Follow Cloudflare Inc. (NYSE:NET)

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