Cloudflare, Inc. (NET) Stock Price & Analysis
Cloudflare, Inc. (NET) closed at USD 303.61 on Thursday, October 22, 2026, down 1.18% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 307.22; the Oct 22, 2026 session ranged USD 302.86–324.33 on volume of 4,800,745 shares. Market capitalization is $108.11B, with a 52-week range of USD 158.83–370.35 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:37 UTC.
Also available as compact Markdown for AI agents: nexqual.com/NET.md
Key facts (NET)
- Last four reported quarters (through Jun 30, 2026): revenue $2.51B, net income -$206M (-8.2% margin), free cash flow $348M (SEC filings).
- Analysts: Buy (mean 2.21 on a 1–5 scale) (34 analysts), mean target USD 343.42 (range 160–430).
- Total return with dividends: 1Y +39.8% vs S&P 500 +14.9%; 5Y +67.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.34, revenue estimate $738M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (NET)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $656M | $975M | $1.30B | $1.67B | $2.17B | $2.51B |
| Gross profit | $509M | $743M | $990M | $1.29B | $1.62B | — |
| Operating income | -$128M | -$201M | -$185M | -$155M | -$207M | -$354M |
| Net income | -$260M | -$193M | -$184M | -$78.8M | -$102M | -$206M |
| EPS (diluted) | -$0.83 | -$0.59 | -$0.55 | -$0.23 | -$0.29 | — |
| Free cash flow | -$28.3M | -$20.0M | $140M | $195M | $287M | $348M |
| Gross margin | 77.6% | 76.1% | 76.3% | 77.3% | 74.5% | — |
| Operating margin | -19.5% | -20.6% | -14.3% | -9.3% | -9.6% | -14.1% |
| Net margin | -39.7% | -19.8% | -14.2% | -4.7% | -4.7% | -8.2% |
| Revenue growth | +52.3% | +48.6% | +33.0% | +28.8% | +29.8% | — |
| Cash + short-term investments | $1.82B | $1.65B | $1.67B | $1.86B | $4.10B | — |
| Total debt | $1.15B | $1.44B | $1.28B | $1.29B | $1.97B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (NET)
P/S 43.0x · EV/Sales 42.2x · P/FCF 310.3x · P/B 66.7x · FCF yield 0.32% · Earnings yield -0.19% · Net cash $2.19B · EV $106B
Analysts (NET)
Consensus Buy (mean 2.21 on a 1–5 scale), 34 analysts; mean target USD 343.42 (low 160, high 430).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | TD Cowen | Target raised | Buy | $355 → $375 |
| 2026-10-12 | Barclays | Target raised | Overweight | $355 → $400 |
| 2026-10-09 | Oppenheimer | Target raised | Outperform | $380 → $430 |
| 2026-10-06 | BTIG | Target raised | Buy | $382 → $413 |
| 2026-09-17 | Bernstein | Target raised | Market Perform | $164 → $181 |
| 2026-08-31 | Citizens | Reiterated | Market Outperform | $394 |
| 2026-08-10 | Citigroup | Target raised | Buy | $265 → $400 |
| 2026-08-10 | Susquehanna | Target raised | Neutral | $200 → $300 |
| 2026-08-08 | Scotiabank | Target raised | Sector Outperform | $300 → $390 |
| 2026-08-07 | UBS | Target raised | Neutral | $250 → $350 |
| 2026-08-07 | TD Cowen | Target raised | Buy | $300 → $355 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $290 → $346 |
Total return (dividends reinvested) (NET)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +39.8% | +67.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +40.0% | +10.8% |
| Volatility (annualized) | 66.6% | 67.6% |
| Max drawdown | -36.8% (Oct 2025→Feb 2026) | -81.1% (Nov 2021→Jan 2023) |
NET revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $354.4M | 50.9% | +40.7% |
| Europe, Middle East, and Africa | $187.0M | 26.9% | +30.4% |
| Asia Pacific | $99.4M | 14.3% | +32.3% |
| Other | $55.1M | 7.9% | +31.8% |
| Total revenue | $696.1M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
Companies that name NET in their SEC reports
| Relationship to NET | Company | Filing | Sentence |
|---|---|---|---|
| customer | Locafy Ltd (LCFY) | 20-F Nov 12, 2025 | “with third-party suppliers such as Cloudflare, Inc. ("Cloudflare"), which provides cloud hosting services.” |
NET analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.34 | $0.32 | +6.4% | $738.1M | 29 |
| Next quarter (ends Dec 2026) | $0.38 | $0.36 | +4.8% | $798.0M | 29 |
| Current fiscal year (ends Dec 2026) | $1.26 | $1.20 | +5.3% | $2.87B | 32 |
| Next fiscal year (ends Dec 2027) | $1.68 | $1.58 | +6.1% | $3.70B | 33 |
NET options: expected move
Options price a move of about ±15.2% (±$47.70) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±10.5%. Over the last 8 reports the stock moved ±8.8% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 68.8% | ±8.5% |
| Nov 6, 2026 | 14 | 93.7% | ±15.2% |
| Nov 13, 2026 | 21 | 84.3% | ±16.5% |
| Nov 20, 2026 | 28 | 79.7% | ±17.8% |
| Nov 27, 2026 | 35 | 74.4% | ±18.5% |
| Dec 4, 2026 | 42 | 72.1% | ±19.6% |
| Dec 18, 2026 | 56 | 69.8% | ±21.5% |
| Jan 15, 2027 | 84 | 66.1% | ±24.8% |
30-day implied volatility 78.6% vs 55.5% realized over the last 30 trading days. Put/call ratio (volume) 0.59. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:37 UTC)
| Price | USD 303.61 |
|---|---|
| Change | ▼ 1.18% (down) |
| Previous Close | USD 307.22 |
| Open | USD 314.5 |
| Day Range | USD 302.86 – 324.33 |
| 52-Week Range | USD 158.83 – 370.35 |
| Volume | 4,800,745 shares |
| Market Cap | $108.11B |
| Exchange | NYQ |
Technical Analysis (NET)
Nexqual's technical model rates NET "STRONG SELL" based on 0 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:37 UTC.
| Overall Signal | STRONG SELL |
|---|---|
| RSI (14) | 44.89 (neutral) |
| vs SMA50 | Below (USD 319.34) |
| MACD | -6.59 (negative) |
Analyst Ratings (NET)
Wall Street analysts rate NET "Buy" based on 34 analysts, with a mean price target of USD 343.42 (range USD 160–430), per Nexqual as of October 23, 2026 at 10:37 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 34 |
| Mean Target | USD 343.42 |
| High Target | USD 430 |
| Low Target | USD 160 |
| Buy / Hold / Sell | 23 / 9 / 2 |
Earnings (NET)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.34 |
| Revenue Estimate | $738.09M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.29 vs est 0.27 ▲ beat |
| 2026-03-31 | USD 0.25 vs est 0.23 ▲ beat |
| 2025-12-31 | USD 0.28 vs est 0.27 ▲ beat |
| 2025-09-30 | USD 0.27 vs est 0.23 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financials & Fundamentals (NET)
| Total Revenue | $2.51B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +35.90% |
| Gross Margin | +72.58% |
| Operating Margin | -7.60% |
| Profit Margin | -8.21% |
| ROE | -14.43% |
| Debt / Equity | 2.18 |
| Current Ratio | 1.82 |
| Total Cash | $4.16B |
| Total Debt | $3.53B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $348.40M (13.9% of revenue) |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Financial Health Score (NET)
Nexqual rates Cloudflare, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:37 UTC.
| Growth | Strong — Revenue +30% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 73%, operating -8% (last 12 months) |
| Balance Sheet | Weak — $4.16B cash and investments vs $1.98B debt (Jun 2026, SEC), net cash |
| Cash Flow | Solid — FCF $348M (last 4 quarters to Jun 2026, SEC), 14% margin |
| Efficiency | Critical — ROE -14%, ROA -2.0% |
Ownership (NET)
| Insider Ownership | +0.62% |
|---|---|
| Institutional Ownership | +90.36% |
| Shares Outstanding | 322.62M |
| Float | 320.46M |
| Short % of Float | +2.69% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
Leadership (NET)
Cloudflare, Inc. is led by Matthew Prince, Co-Founder, Co-Chairman & CEO, per Nexqual as of October 23, 2026 at 10:37 UTC.
| Co-Founder, Co-Chairman & CEO | Matthew Prince |
|---|---|
| Chief Financial Officer | Thomas Josef Seifert |
| Vice President of Strategic Finance, Treasury and Investor Relations | Philip Alan Winslow Jr., C.F.A. |
| President of Revenue | Mark F. Anderson |
| Senior Vice President of Emerging Technology & Incubation | Dane Knecht |
Major Backers & Investors (NET)
Notable institutional backers of Cloudflare, Inc. include Capital Group, Growth Fund of America, Morgan Stanley, according to Nexqual as of October 23, 2026 at 10:37 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Capital Group | 7.57% |
| Growth Fund of America | 5.08% |
| Morgan Stanley | 4.75% |
| Baillie Gifford | 4.55% |
| FMR, LLC | 3.94% |
| Capital International Investors | 3.42% |
| AMERICAN FUNDS INSURANCE SERIES-Growth Fund | 1.9% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.73% |
| BlackRock | 6.72% |
| State Street | 2.31% |
Source: Nexqual, October 23, 2026 at 10:37 UTC.
From Cloudflare, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- We provide an integrated cloud-based security solution designed to secure any combination of platforms, including public cloud, private cloud, on-premises, SaaS applications, and "Internet of things" devices.
- Our distributed and proprietary network is the core of our technology and enables us to move data seamlessly from nearly any point on earth in a fast, efficient, and reliable manner.
- We further seek to control the use of our proprietary technology and intellectual property rights through provisions in our subscription agreements.
- Our network has been built from the ground up as a single software stack we developed that runs our products in more than 330 cities and over 125 countries worldwide.
Legal & Regulatory Risks (Item 1A, quoted)
- Our policies regarding user privacy could cause us to experience adverse business and reputational consequences with customers, employees, suppliers, government entities, and other third parties.
- Our business could be adversely impacted by changes in Internet access for our customers as a result of competitive behavior or laws specifically governing the Internet.
- Failure to comply with laws and regulations applicable to our business could subject us to fines and penalties and could also cause us to lose customers or otherwise harm our business.
- Our actual or perceived failure to comply with privacy, data protection, information security, AI, and other applicable laws, regulations, and obligations could harm our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:37 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt