Cloudflare, Inc.

(New York Stock Exchange)
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Bullish +65

BTIG raised target for Cloudflare stock from USD 382.00 to USD 413.00

Analyst upgrade Earnings report AI-generated analysis

📈 BTIG raised its price target for Cloudflare (NET) from USD 382.00 to USD 413.00 while maintaining a Buy rating.

💰 Second-quarter revenue reached USD 696.06 million, up 35.90% year over year and beating the USD 664.66 million consensus.

📊 Earnings per share of USD 0.29 exceeded the expected USD 0.27, demonstrating strong top-line execution.

⚠️ The company reported a negative net margin of -8.21%, highlighting ongoing profitability challenges despite revenue growth.

🏢 Cloudflare serves over 4,600 large customers and holds more than 45% of Fortune 500 companies as paying clients.

📉 The stock trades at a high valuation with a market cap of USD 123.4 billion and a 52-week range of USD 158.83 to USD 370.35.

🔮 Analysts are optimistic about demand for products including Workers AI, Magic WAN, SASE, and bot-management solutions.

📅 The company is scheduled to report third-quarter results on October 29, 2026, with a consensus revenue estimate of USD 736.80 million.

Bullish Signals
  • BTIG raised its price target for Cloudflare from USD 382.00 to USD 413.00 while maintaining a Buy rating.
  • Second-quarter revenue of USD 696.06 million beat the consensus estimate of USD 664.66 million by over USD 31 million.
  • Revenue grew 35.90% year over year, indicating strong demand for the company's security and infrastructure products.
  • Earnings per share of USD 0.29 surpassed analyst expectations of USD 0.27.
  • The company maintains a robust customer base with over 4,600 large customers and more than 45% of Fortune 500 firms as paying clients.
Risk Factors
  • Cloudflare reported a negative net margin of -8.21% for the second quarter, signaling continued profitability struggles.
  • The stock trades at a high valuation with a market capitalization of USD 123.4 billion, leaving little room for error in future earnings.
Full Analysis
BTIG analyst firm raised its price target for Cloudflare (NET) from USD 382.00 to USD 413.00 on October 6, 2026, while maintaining a Buy rating. This bullish adjustment reflects strong demand across the company's core portfolio, including application security, Workers AI, Magic WAN, SASE, and bot-management products. Cloudflare reported second-quarter revenue of USD 696.06 million, representing a 35.90% year-over-year increase that significantly exceeded the consensus estimate of USD 664.66 million. The company also beat earnings per share expectations with results of USD 0.29 versus the anticipated USD 0.27. Despite the revenue growth and positive analyst sentiment, the stock faces headwinds regarding profitability, as the company reported a negative net margin of -8.21% for the quarter. The stock traded at EUR 310.45 on October 9, 2026, up 1.79% from the prior close, with a market capitalization of USD 123.4 billion. Investors will be watching the upcoming third-quarter earnings report scheduled for October 29, 2026, which is expected to face a consensus revenue estimate of USD 736.80 million. The current analyst target revision suggests confidence in future growth despite the ongoing challenge of achieving GAAP profitability.