
Cloudflare (NET) Stock Forecast & Price Target
Cloudflare (NET) Analyst Ratings
Bulls say
Cloudflare is compelling because it combines a differentiated global edge network with a broad platform spanning security, performance, Zero Trust, and serverless development, creating multiple durable monetization paths. Its latest results showed revenue of $696M, up 36% y/y, gross margin of 73.1%, net dollar retention of 120%, and 7.4M developers on Workers, while management also raised guidance and highlighted accelerating demand from large customers, pool-of-funds deals, and agentic traffic. The investment case is further strengthened by Cloudflare OS v2, which expands its role in AI workflows and pulls through products like Workers and AI Gateway, and by a 2028E EV/revenue multiple of 22.8x that appears reasonable given the company’s higher growth and strategic market position.
Bears say
Cloudflare is exposed to fundamental risks that could pressure both growth and margins, including dependence on favorable terms with Internet service providers and cloud partners, intense competition from major public cloud providers, and roughly half of revenue coming from outside the United States, including China via Baidu. Its latest figures showed calculated billings of $754M, up 35% y/y, but operating cash flow of $118M and free cash flow of $56M still indicate only modest conversion relative to scale, while RaO of $2.732B was below expectations. The stock also faces cybersecurity, service-disruption, and macro risks, and weaker tech spending or slower new-customer wins could compress revenue growth and support a lower multiple.
This aggregate rating is based on analysts' research of Cloudflare and is not a guaranteed prediction by Public.com or investment advice.
Cloudflare (NET) Analyst Forecast & Price Prediction
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