Cloudflare (NET) Stock Forecast & Price Target

Q: What analysts cover Cloudflare?

Cloudflare has been rated by research analysts at Barclays , Benchmark , BTIG Research , Cantor Fitzgerald , Citigroup , Citizens Jmp , Deutsche Bank Aktiengesellschaft , DZ Bank , Guggenheim , Jefferies Financial Group , KeyCorp , Mizuho , Morgan Stanley , Needham & Company LLC , Oppenheimer , Piper Sandler , Raymond James Financial , Robert W. Baird , Royal Bank Of Canada , Sanford C. Bernstein , Scotiabank , Susquehanna , TD Cowen , The Goldman Sachs Group , Truist Financial , UBS Group , Weiss Ratings , Wells Fargo & Company , and Zacks Research in the past 90 days.

$352.35 +5.07 (+1.46%)

As of 11:28 AM Eastern

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Cloudflare - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 33 Analyst Ratings

Sell
4

Hold
7

Buy
22

Based on 33 Wall Street analysts who have issued ratings for Cloudflare in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 33 analysts, 4 have given a sell rating, 7 have given a hold rating, 21 have given a buy rating, and 1 has given a strong buy rating for NET.

Consensus Price Target

$321.85
-8.65% Downside

According to the 33 analysts' twelve-month price targets for Cloudflare, the average price target is $321.85. The highest price target for NET is $400.00, while the lowest price target for NET is $140.00. The average price target represents a forecasted downside of -8.65% from the current price of $352.35.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

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NET Analyst Ratings Over Time

Type	Current Forecast 10/1/25 to 10/1/26	1 Month Ago 9/1/25 to 9/1/26	3 Months Ago 7/3/25 to 7/3/26	1 Year Ago 10/1/24 to 10/1/25
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	21 Buy rating(s)	21 Buy rating(s)	21 Buy rating(s)	15 Buy rating(s)
Hold	7 Hold rating(s)	7 Hold rating(s)	7 Hold rating(s)	8 Hold rating(s)
Sell	4 Sell rating(s)	4 Sell rating(s)	3 Sell rating(s)	4 Sell rating(s)
Consensus Price Target	$321.85	$320.19	$241.35	$191.28
Forecasted Upside	-8.65% Downside	12.08% Upside	-0.33% Downside	-12.03% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

NET Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

NET Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Cloudflare Stock vs. The Competition

Type	Cloudflare	Technology Companies	Broader Market
Consensus Rating Score	2.58	2.23	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	-7.18% Downside	506.87% Upside	20.89% Upside
News Sentiment Rating	Positive News See Recent NET News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/17/2026	Sanford C. Bernstein 3 of 5 stars	Peter Weed 4 of 5 stars	Boost Target	Market Perform	$164.00 ➝ $181.00	-44.29%
8/31/2026	Citigroup 4 of 5 stars	Fatima Boolani 2 of 5 stars	Reiterated Rating	Market Outperform
8/31/2026	Citizens Jmp 4 of 5 stars	Patrick Walravens 1 of 5 stars	Reiterated Rating	Market Outperform	$394.00	+31.47%
8/14/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
8/10/2026	Susquehanna Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Aaron Samuels Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$200.00 ➝ $300.00	-0.35%
8/7/2026	Scotiabank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Patrick Colville Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$300.00 ➝ $390.00	+28.23%
8/7/2026	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Keith Weiss Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Overweight	$370.00	+21.65%
8/7/2026	Robert W. Baird Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shrenik Kothari Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$330.00	+8.21%
8/7/2026	Guggenheim Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	John DiFucci Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Sell	$140.00 ➝ $160.00	-43.53%
8/7/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Roger Boyd Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$250.00 ➝ $350.00	+23.53%
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8/7/2026	Wells Fargo & Company Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ryan MacWilliams Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$300.00 ➝ $380.00	+34.12%
8/7/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy	$389.00	+37.30%
8/7/2026	KeyCorp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jackson Ader Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$300.00 ➝ $375.00	+32.36%
8/7/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Joseph Gallo Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$350.00	+23.53%
8/7/2026	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Shaul Eyal Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$300.00 ➝ $355.00	+25.30%
8/7/2026	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Saket Kalia Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$300.00 ➝ $355.00	+25.30%
8/7/2026	DZ Bank Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Strong Sell
8/7/2026	Royal Bank Of Canada Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Matthew Hedberg Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$290.00 ➝ $346.00	+16.02%
8/7/2026	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	James Fish Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$250.00 ➝ $333.00	+9.16%
8/7/2026	Oppenheimer Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Param Singh Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$330.00 ➝ $380.00	+21.06%
8/7/2026	Needham & Company LLC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Mike Cikos Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$280.00 ➝ $380.00	+19.08%
8/7/2026	Truist Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Junaid Siddiqui Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$300.00 ➝ $350.00	+10.57%
8/7/2026	BTIG Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gray Powell Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$314.00 ➝ $382.00	+34.83%
8/3/2026	Cantor Fitzgerald Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Thomas Blakey Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Neutral	$250.00	-12.43%
7/17/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Sell (D-)
7/15/2026	Mizuho Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Gregg Moskowitz Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Outperform	$260.00 ➝ $310.00	+10.04%
7/7/2026	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Buy
7/7/2026	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Initiated Coverage	Strong-Buy
7/7/2026	Benchmark Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Underperform
6/15/2026	New Street Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Market Outperform
5/8/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$260.00	+28.66%
1/26/2026	Wolfe Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Peer Perform
11/10/2025	Argus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Joseph Bonner Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$238.00 ➝ $265.00	+13.72%
8/1/2025	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Madeline Brooks Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$235.00 ➝ $240.00	+15.62%
5/12/2025	CICC Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Market Perform ➝ Outperform	$154.00	+8.20%
5/8/2025	Capital One Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Connor Murphy Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
2/7/2025	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Mark Murphy Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$110.00 ➝ $115.00	-31.09%
10/8/2024	BNP Paribas Exane Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Stefan Slowinski Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Underperform	$65.00	-19.23%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 11:28 AM ET.

Should I Buy Cloudflare Stock? NET Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, September 29, 2026. Please send any questions or comments about these Cloudflare pros and cons to contact@marketbeat.com.

Cloudflare
Bull Case

Here are some ways that investors could benefit from investing in Cloudflare, Inc.:

Cloudflare, Inc. is currently trading at $351.43, a level that reflects strong recent momentum and a 30-day return of over 29%, driven by the market's positive reception of its new granular AI crawler controls and the "Disallow AI Training" feature which positions the company as a critical gatekeeper for AI data usage.
The company recently announced a strategic partnership with Deutsche Telekom to expand enterprise security and connectivity services across Europe, leveraging the telecom's existing sales channels to reach more corporate clients running AI workloads, which supports the long-term growth case for its unified platform strategy.
Cloudflare, Inc. demonstrated strong fundamental performance in its most recent quarter with revenue of $696.06 million, a 35.9% year-over-year increase that significantly exceeded the consensus estimate of $664.66 million, while also beating earnings per share expectations with $0.29 actual EPS against a $0.27 consensus.
Investors may view the company as a direct beneficiary of the broader AI-infrastructure rally, evidenced by sector support following Akamai's $11.6 billion cloud commitment from Anthropic, as rising demand for AI connectivity, security, and edge infrastructure continues to drive interest in Cloudflare's network capabilities.
The company is expanding its product suite with the announcement of a public Certificate Authority for the post-quantum web, which will support next-generation post-quantum Merkle Tree Certificates, providing a new revenue stream and reinforcing its role in securing digital identity as computing power advances.

Cloudflare
Bear Case

Investors should be bearish about investing in Cloudflare, Inc. for these reasons:

Valuation remains a significant risk as the company's market capitalization is approximately $124.2 billion with a negative P/E ratio of -605.91, indicating that the stock price is extremely elevated relative to its current earnings, and any slowdown in growth could prompt further multiple compression.
Recent insider activity has been heavily skewed toward selling, with insiders selling a total of 557,674 shares valued at over $155 million in the last three months, including significant sales by CEO Matthew Prince and CFO Thomas Seifert, which can add pressure to investor sentiment.
The company continues to post a negative net margin of 8.21% and a negative return on equity of 3.88%, suggesting that while revenue is growing rapidly, the business is not yet generating sufficient profit to justify its high valuation metrics in the eyes of some value-oriented investors.
Some active managers remain cautious about the stock's position, as highlighted by the BUFFALO Mid Cap Discovery Fund, which stated that its underweight position in Cloudflare, Inc. created a relative performance headwind, indicating that not all institutional investors are convinced of the current price level.
The stock's recent 30-day and year-to-date gains have raised expectations for continued rapid execution, meaning that the bar for future performance is very high, and any disappointment in upcoming quarters could lead to a sharp correction given the high beta of 1.66.

NET Forecast - Frequently Asked Questions

According to the research reports of 33 Wall Street equities research analysts, the average twelve-month stock price forecast for Cloudflare is $321.85, with a high forecast of $400.00 and a low forecast of $140.00.

33 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Cloudflare in the last year. There are currently 4 sell ratings, 7 hold ratings, 21 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" NET shares.

According to analysts, Cloudflare's stock has a predicted downside of -8.65% based on their 12-month stock forecasts.

Over the previous 90 days, Cloudflare's stock had 4 upgrades and 4 downgrades by analysts.

Cloudflare has been rated by research analysts at Barclays, Benchmark, BTIG Research, Cantor Fitzgerald, Citigroup, Citizens Jmp, Deutsche Bank Aktiengesellschaft, DZ Bank, Guggenheim, Jefferies Financial Group, KeyCorp, Mizuho, Morgan Stanley, Needham & Company LLC, Oppenheimer, Piper Sandler, Raymond James Financial, Robert W. Baird, Royal Bank Of Canada, Sanford C. Bernstein, Scotiabank, Susquehanna, TD Cowen, The Goldman Sachs Group, Truist Financial, UBS Group, Weiss Ratings, Wells Fargo & Company, and Zacks Research in the past 90 days.

Analysts like Cloudflare more than other "technology" companies. The consensus rating for Cloudflare is Moderate Buy while the average consensus rating for "technology" companies is Hold. Learn more on how NET compares to other companies.

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MarketBeat monitors more than a dozen sources for Cloudflare analyst ratings, with the most recent rating issued on 9/17/2026.

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Cloudflare (NET) Stock Forecast & Price Target