Cloudflare (NET)
Delivers Internet security, networking, and developer services on a shared global network.
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Delivers security, network connectivity, developer compute and storage, and consumer Internet services through a shared global network. Subscription and support revenue comes from direct, partner, and self-service customers, while one software stack and control plane support every product suite.
Runs a shared programmable network for Application Services, the SASE platform, developer-based solutions, and consumer offerings. Subscription and support arrangements produce substantially all revenue, sold through direct teams, channel partners, and web self-service. Free users feed adoption, while customers expand through usage, plan upgrades, and products across suites.
Serves customers worldwide, with the United States as the largest billing geography. A unified software stack and control plane deploy services globally and allocate capacity across the network; developer code runs through Workers. The system relies on colocation and ISP-partner facilities, a limited group of hardware suppliers, third-party infrastructure and software, channel execution, and rules covering privacy, data localization, and AI.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Bernstein | Reiterate | Rating: —Target: $136 | Target: $181 |
| Aug 10, 2026 | Susquehanna | Reiterate | Rating: —Target: $200 | Target: $300 |
| Aug 7, 2026 | Truist Financial | Target | Target: $300 | Target: $350 |
| Aug 7, 2026 | Needham | Reiterate | Rating: —Target: $250 | Target: $380 |
| Aug 7, 2026 | Scotiabank | Reiterate | Rating: —Target: $300 | Target: $390 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $4.16B · Total debt $3.53B · Total assets $6.47B · Shareholders' equity $1.62B
- Revenue
- $696.1M
- Operating income
- −$205.7M
- Net income
- −$170.0M
No dividends on record.
| Institutions | ≈ 78.61% | 279.92M shares | |
|---|---|---|---|
| 1,325 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 7.99% | 28.44M shares | |
| 14 holders · as of Sep 21, 2026 | |||
| Strategic holders | 4.36% | 15.51M shares | |
| 1 holder · as of Feb 3, 2023 | |||
| Other | ≈ 9.04% | 32.21M shares | |
| remainder | |||
356.08M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
UV Partners IV, L.P.Institution | 10.85% | 38.63M | filed Feb 14, 2020 |
Matthew Prince1Insiderdirector, 10 percent owner, officer: CEO & Board Co-Chair | 6.88% | 26.34M A | filed Aug 18, 2026 |
Capital World InvestorsInstitution | 6.83% | 24.33M A | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.07% | 21.60M A | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.72% | 16.82M A | as of Jun 30, 2026 |
- Matthew Prince's transaction reports restate only vehicles that traded; the 2026 ownership statement (26.34M) less the 1.83M net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2026 | Thomas J. Seifert | officer: Chief Financial Officer | −10,000 | $332.46 |
| Sep 14, 2026 | Carl Ledbetter | director | −5,000 | $312.22 |
| Sep 8, 2026 | Michelle Zatlyn | director, officer: PRESIDENT & BOARD CO-CHAIR | −33,003 | $277.43 |
| Sep 4, 2026 | Michelle Zatlyn | director, officer: PRESIDENT & BOARD CO-CHAIR | −33,003 | $281.67 |
| Sep 3, 2026 | Michelle Zatlyn | director, officer: PRESIDENT & BOARD CO-CHAIR | −33,003 | $278.92 |
- Akamai Technologies
Broad edge rival across delivery, application security, and compute.
- Amazon
Hyperscale cloud alternative across delivery, security, and edge workloads.
- Palo Alto Networks
Enterprise SASE and Zero Trust platform rival.
- Zscaler
Cloud-native Zero Trust and SASE specialist.
- Fastly
Direct edge platform rival in CDN, security, and serverless compute.
- Microsoft
Azure bundles application delivery security with cloud developer services.
- Alphabet Class A
Google Cloud alternative for CDN, application defense, and compute.
- F5
Application delivery and web/API security rival for enterprises.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cloudflare | $353.45 | +0.51% | $124.85B | — | 238.2 | 49.7 | +35.9% |
| Akamai Technologies | $118.16 | +0.64% | $17.07B | 42.2 | 17.2 | 3.9 | +5.4% |
| Amazon | $257.02 | −0.56% | $2.78T | 20.8 | 27.5 | 3.6 | +19.6% |
| Palo Alto Networks | $368.86 | −0.78% | $302.98B | 844.9 | 88.1 | 26.4 | +34.5% |
| Zscaler | $206.10 | −0.50% | $33.49B | — | 42.3 | 10.0 | +24.9% |
| Fastly | $27.20 | −0.82% | $4.29B | — | 53.2 | 6.2 | +23.3% |
| Microsoft | $497.59 | −0.80% | $3.72T | 27.9 | 25.4 | 11.2 | +17.8% |
| Alphabet Class A | $361.78 | +1.92% | $4.30T | 17.8 | 26.9 | 9.6 | +24.2% |
| F5 | $450.23 | +0.03% | $25.39B | 35.9 | 25.9 | 7.7 | +10.9% |
| Median | 31.9 | 27.2 | 8.7 | +21.4% |