Cloudflare Stock Soars to Record on Strong Earnings
Cloudflare Stock Soars to Record on Strong Earnings
Aaron McDadeFri, August 7, 2026 at 3:53 PM UTC
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Cloudflare shares have gained more than 50% since the start of 2026.Credit: Stanislav Kogiku / SOPA Images / LightRocket / Getty ImagesKey Takeaways -
Cloudflare shares surged Friday after the company reported better-than-expected earnings.
The networking and security services provider also raised its full-year revenue outlook.
Cloudflare shares are soaring to new highs on the back of a strong second-quarter earnings report.
Shares of Cloudflare (NET) were up 8% at $308 in recent trading, after rising as high as $325 early in Friday’s session. The networking and security services provider said that it earned an adjusted 29 cents per share on a 36% year-over-year jump in revenue to $696.1 million, above estimates compiled by Visible Alpha.
CEO Matthew Prince said in a release that the company saw “record growth in total paying customers, large customers, and developers on our platform,” as AI adoptions grows.
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“As the web shifts to AI answer engines and agent-driven commerce, we are seeing a fundamental rewrite of the Internet for machine-to-machine traffic,” the CEO wrote. “Cloudflare sits at the center of this paradigm shift—building the infrastructure, controls, developer tools, and payment rails for the Agentic Internet. The business model of the web is changing, and no company is better positioned than Cloudflare to help define its future.”
Cloudflare’s third-quarter forecasts of $736 million to $737 million in revenue and adjusted EPS of 34 cents topped consensus projections. The company also boosted its full-year guidance, pegging revenue at between $2.864 billion and $2.87 billion and adjusted EPS of $1.25 to $1.26.
JPMorgan analysts more than doubled their price target to $350 from $145 following the report, writing that the results and outlook “cleared what were already elevated expectations, in our view reinforcing the company’s differentiated position of benefiting from broadening AI tailwinds.”
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Source: “AOL Money”
