Cloudflare (NYSE:NET) Given New $350.00 Price Target at Truist Financial

Cloudflare (NYSE:NET) had its target price raised by Truist Financial from $300.00 to $350.00 in a report issued on Friday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. TD Cowen raised their target price on Cloudflare from $300.00 to $355.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley raised their price objective on shares of Cloudflare from $305.00 to $322.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. The Goldman Sachs Group restated a “buy” rating and set a $389.00 target price on shares of Cloudflare in a research report on Friday. Oppenheimer increased their price target on shares of Cloudflare from $300.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial initiated coverage on shares of Cloudflare in a research note on Tuesday, July 7th. They set a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $311.48.

Cloudflare Stock Up 5.8%

NET opened at $301.00 on Friday. The stock has a market capitalization of $106.39 billion, a price-to-earnings ratio of -518.96, a PEG ratio of 212.72 and a beta of 1.65. The firm has a 50 day moving average price of $257.02 and a 200-day moving average price of $218.84. Cloudflare has a twelve month low of $158.83 and a twelve month high of $324.73. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET) last issued its earnings results on Wednesday, August 5th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.99%. The company had revenue of $696.06 million for the quarter, compared to analysts’ expectations of $664.66 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. Equities research analysts forecast that Cloudflare will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mark J. Hawkins sold 133 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $277.74, for a total transaction of $36,939.42. Following the transaction, the director owned 10,632 shares of the company’s stock, valued at approximately $2,952,931.68. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Carl Ledbetter sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $281.98, for a total value of $1,409,900.00. Following the completion of the sale, the director owned 883,073 shares of the company’s stock, valued at approximately $249,008,924.54. This represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 749,532 shares of company stock valued at $183,882,628 over the last quarter. Company insiders own 10.66% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd bought a new stake in shares of Cloudflare during the 2nd quarter worth approximately $1,499,000. MBM Wealth Consultants LLC grew its position in Cloudflare by 11.7% in the 2nd quarter. MBM Wealth Consultants LLC now owns 11,233 shares of the company’s stock valued at $2,755,000 after acquiring an additional 1,174 shares during the last quarter. Benjamin Edwards Inc. increased its stake in Cloudflare by 55.9% in the second quarter. Benjamin Edwards Inc. now owns 3,928 shares of the company’s stock worth $963,000 after purchasing an additional 1,408 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Cloudflare during the second quarter worth $477,000. Finally, Nilsine Partners LLC boosted its stake in shares of Cloudflare by 11.7% during the second quarter. Nilsine Partners LLC now owns 1,206 shares of the company’s stock valued at $296,000 after purchasing an additional 126 shares during the period. Institutional investors own 82.68% of the company’s stock.

Trending Headlines about Cloudflare

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Q2 results beat expectations. Revenue rose 35.9% year over year to $696.1 million, exceeding the approximately $664.7 million consensus estimate. Adjusted EPS was $0.29 versus expectations of $0.27, supported by large-customer additions, Workers adoption and improved execution. Cloudflare Q2 earnings report
• Positive Sentiment: Cloudflare raised its forecast. Third-quarter guidance calls for approximately $736 million-$737 million in revenue and $0.34 EPS, above analyst estimates. Full-year 2026 revenue guidance was lifted to roughly $2.864 billion-$2.870 billion, while EPS guidance increased to $1.25-$1.26. Management cited resilient AI-agent demand across its network. Reuters outlook report
• Positive Sentiment: Analysts responded with higher targets. Citizens JMP raised its target to $394, while Oppenheimer and Needham increased targets to $380. BTIG, RBC, Piper Sandler and Truist also raised targets and maintained bullish ratings, signaling confidence in Cloudflare’s AI growth opportunity.
• Positive Sentiment: New AI products add potential growth avenues. Cloudflare launched Kitesurf, a cloud-hosted browser designed for AI agents, and an AEO Visibility Dashboard that helps brands track recommendations from AI assistants. TechCrunch Kitesurf report
• Neutral Sentiment: Valuation and volatility remain elevated. The rally has pushed Cloudflare near record levels, leaving the stock dependent on continued high growth, margin improvement and successful AI monetization.
• Negative Sentiment: Insider selling is a modest sentiment risk. CEO Matthew Prince, CFO Thomas Seifert and director Carl Ledbetter sold shares under pre-arranged Rule 10b5-1 plans. These transactions may concern investors but do not necessarily indicate weakening business fundamentals.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.