Cloudflare (NET) Soars 10.5% on Upbeat Outlook, Says Opportunities ‘Larger’ Than Business
Cloudflare Inc. (NYSE:NET) saw its stock price rise by 10.51 percent on Wednesday, reaching $10.51 per share following an optimistic outlook. At the Goldman Sachs Communacopia + Technology Conference 2026, CFO Thomas Seifert stated that the company is shifting from a SaaS model to an agentic AI platform amid the rapidly expanding artificial intelligence sector.
The company highlighted potential opportunities in areas such as inference, content protection, and payments infrastructure, leading to an increased annual outlook from 40 percent to 50 percent, with projected revenue growth of 36 percent year-on-year. In Q2, Cloudflare's revenue grew by 36 percent to $696.1 million, while its net loss widened by 237 percent to $169.98 million.
The company also partnered with OpenAI to launch Vulnerability Discovery and Remediation, enabling organizations to automatically block high-risk attacks at the edge. During the period, 87 hedge funds held positions in Cloudflare, a 11.8 percent increase in combined holdings to $3.97 billion.
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