On August 27, Cloudflare, Inc. rose 3.11% in after-hours trading, trading at approximately $292.74/share, with turnover of $26.74 million. The gain was driven by continued market reaction to the company's disclosure that AI agent-generated traffic surged over 1700% in the past year.
Cloudflare's Asia-Pacific executives recently revealed that AI agent traffic now accounts for roughly 60% of total network traffic, creating significant incremental demand for the company's cybersecurity and edge computing services. This data further validates the \"AI agent-driven growth\" thesis from the Q2 earnings report, in which revenue reached $696.1 million — beating consensus estimates by 4.7% — while full-year adjusted EPS guidance was raised to $1.25-$1.26 from a prior $1.19-$1.20. Oppenheimer reiterated its outperform rating and raised its price target to $380, noting that agentic AI traffic growth has yet to be fully reflected in the current valuation. The stock had previously faced pressure from the announced $2.175 billion convertible senior notes offering on August 10, pulling shares back from roughly $300, but the AI traffic narrative appears to be reasserting upward momentum.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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