Stock Track | Cloudflare Soars 5.13% Intraday as RBC Reiterates Bullish Stance and AI Positioning Fuels Rebound

Stock Track05-28

Cloudflare, Inc. (NET) experienced a significant price increase, soaring 5.13% during intraday trading on Thursday.

The surge is primarily driven by RBC Capital Markets reaffirming its bullish outlook on the company. The brokerage reiterated its Outperform rating and $240 price target, highlighting that Cloudflare is well-positioned in the AI agent space as many top frontier models leverage its services. RBC also noted the company is likely ahead of schedule on its $5 billion revenue target by 2028 and pointed to an upcoming analyst day as a potential catalyst for further positive insights.

This rebound follows a decline in the prior session triggered by news of workforce reductions and Q2 revenue guidance that came in slightly below expectations. The positive analyst commentary appears to have outweighed those concerns, fueling the stock's recovery.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment