CLOUDFLARE, INC. (NET)
NYSEInformation TechnologySoftware - InfrastructureSnapshot 2026-09-04
$278.92-1.96%
Close 2026-09-04 · 1-day change
NYSEInformation TechnologySoftware - InfrastructureSnapshot 2026-09-04
Research Workspace
Put NET beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Systems Software is in expansion. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
Primary pillar under pressure — Non-GAAP income from operations near $419M in 2026: FY26 non-GAAP income guidance $444M vs $418M-$421M target.
View ThesisRevenue growth is accelerating — up about 34% over the past year.
View GrowthRanks in the weakest quality tier of its industry — roughly the bottom 42%, softest on returns on capital.
View QualityMiddle-of-the-pack management execution.
View ManagementExpectations look high — the market is pricing in about 50% growth a year, above the roughly 36% analysts expect, leaving little room for error.
View ValuationThis stock is volatile — it swings about 3% on a typical day and fell roughly 37% in its worst 12-month stretch.
View RiskNET's growth relies on successfully transitioning to an AI-first operating model. Revenue guidance of $2.8 billion for 2026 supports this claim, as the latest earnings beat showed 36% year-over-year revenue growth. Currently, NET trades at 39× price-to-sales, above the peer median of 5×. This premium suggests the market expects continued strong performance. A specific risk is the 28% probability of a miss in the next quarter, which could pressure the thesis. Peer multiples imply a price about 8% below where it trades. The thesis is on watch due to recent price movements.
Trailing returns as of 2026-09-04. NET is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 34 analysts currently covering NET (as of Sep 2026).
Based on 21 Wall Street analysts offering 12-month price targets for NET in the last 4 months.
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Compare NET with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
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| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| NET Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across our valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No fair value published
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
This applies to all three horizons. The trailing multiples, peer comparison, and quality and trajectory reads on this page are unaffected. Names move in and out of this state day to day as the methods converge or diverge. Method agreement on this name is low.
Bottom 25% on quality vs scored peers
A price-focused, side-by-side fair-value read versus Systems Software — fair value, gap to price, and forward P/E.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Our valuation methods disagree too much on this name right now. Rather than print a number we don't believe, we're holding it back until they converge.
Compare the value case
Put NET next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Transition to agentic AI-first operating model
AI push aligns with agentic AI-first operating model objective.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-04. EPS is implied from price ÷ P/E. Not investment advice.
Current $278.92
The last 12 months of price, then the range of analyst 12-month targets from today’s $278.92.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Transition to agentic AI-first operating model
Agentic AI focus aligns with management's AI-first operating model objective.
Advances: Transition to agentic AI-first operating model
AI focus aligns with management's transition objective.
Advances: Transition to agentic AI-first operating model
Aligns with transition to AI-first operating model.
Advances: Transition to agentic AI-first operating model
Aligns with transition to AI-first operating model.
Convertible notes may impact future revenue guidance.
Advances: Achieve revenue guidance of approximately $2.86B for 2026
Growth reacceleration supports revenue guidance for 2026.
Advances: Achieve revenue guidance of approximately $2.86B for 2026
Revenue forecast aligns with management's guidance objective.
