On August 27, Cloudflare, Inc. rose 3.28% in regular trading, trading at $295.6/share, with turnover of $96.09 million. The stock extended gains as market sentiment remained buoyed by the company's AI agent traffic growth narrative.
On the news front, Cloudflare's Asia-Pacific executives recently disclosed that AI agent-generated traffic surged over 1700% in the past year and now accounts for approximately 60% of total traffic, delivering significant incremental demand for the company's cybersecurity and edge computing businesses. This data further validates the AI agent-driven growth thesis from Q2 earnings, where revenue of $696.1 million beat estimates by 4.7%, and full-year EPS guidance was raised to $1.25-$1.26. Oppenheimer raised its price target to $380, citing that AI agent traffic growth has not yet been fully reflected in the valuation. Morgan Stanley and Mizuho also lifted targets to $370 and $375 respectively following the earnings beat.
(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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