Wall Street analyst estimates for Cloudflare, Inc. (NET): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Cloudflare, Inc. functions as a global provider of cloud-based services. The company delivers a comprehensive, integrated cloud security platform designed to safeguard a diverse array of digital environments, encompassing public and private clouds, on-premises infrastructure, Software-as-a-Service (SaaS) applications, and Internet of Things (IoT) devices.
Consensus price target
$336.29 (+20 % vs price $280.70)
between $160.00 and $430.00 · 22 targets published in the last quarter
Closing price, Oct 30
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2026E | $2.9B | $2.8B – $2.9B | $1.26 | 18 |
| 2027E | $3.7B | $3.6B – $3.9B | $1.68 | 18 |
| 2028E | $4.7B | $4.3B – $5.2B | $2.24 | 6 |
Figures in USD · consensus as of October 29, 2026
Analyst Consensus
| Strong Buy | 0 |
| Buy | 29 |
| Hold | 10 |
| Sell | 2 |
| Strong Sell | 0 |
| Total analysts | 41 |
| Avg rating (−2 sell to +2 buy) | 0.66 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2026-11-05 | $0.34 | ||
| 2026-08-06 | $0.29 | $0.27 | +8.0% |
| 2026-05-07 | $0.25 | $0.23 | +8.4% |
| 2026-02-10 | $0.28 | $0.27 | +3.2% |
| 2025-10-30 | $0.27 | $0.23 | +17.3% |
| 2025-07-31 | $0.21 | $0.18 | +14.5% |
| 2025-05-08 | $0.16 | $0.16 | -2.3% |
| 2025-02-06 | $0.19 | $0.18 | +5.6% |
Valuation Ratios
| Price / Book | 57.33 |
| EV / EBITDA | 2,904.07 |
| Dividend Yield | 0.00% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $84.8M | $134.9M | $192.7M | $287.0M | $431.1M | $656.4M | $975.2M | $1.30B | $1.67B | $2.17B |
| Cost of Revenue | $24.0M | $28.8M | $43.5M | $63.4M | $101.1M | $147.1M | $232.6M | $307.0M | $378.7M | $552.5M |
| Gross Profit | $60.8M | $106.1M | $149.1M | $223.6M | $330.0M | $509.3M | $742.6M | $989.7M | $1.29B | $1.62B |
| Research & Development | $23.7M | $33.6M | $54.5M | $90.7M | $127.1M | $189.4M | $298.3M | $358.1M | $421.4M | $512.5M |
| Selling, General & Admin | $54.2M | $82.2M | $179.6M | $240.9M | $309.6M | $447.6M | $645.5M | $817.1M | $1.02B | $1.31B |
| Operating Expenses | $77.9M | $115.9M | $234.0M | $331.5M | $436.8M | $637.0M | $943.8M | $1.18B | $1.45B | $1.82B |
| Operating Income | -$17.0M | -$9.7M | -$84.9M | -$107.9M | -$106.8M | -$127.7M | -$201.2M | -$185.5M | -$154.8M | -$207.2M |
| EBITDA | -$8.3M | $3.3M | -$66.2M | -$74.1M | -$50.6M | -$132.1M | -$83.4M | -$36.2M | $62.0M | $105.8M |
| Interest Expense | $654,000 | $862,000 | $992,000 | $1.1M | $25.0M | $49.2M | $5.0M | $5.9M | $5.2M | $8.8M |
| Pre-tax Income | -$17.3M | -$9.7M | -$86.1M | -$104.7M | -$125.0M | -$248.0M | -$190.7M | -$177.9M | -$70.9M | -$92.7M |
| Income Tax | $69,000 | $1.0M | $1.1M | $1.1M | -$5.6M | $12.3M | $2.6M | $6.1M | $7.9M | $9.6M |
| Net Income | -$17.3M | -$10.7M | -$87.2M | -$105.8M | -$119.4M | -$260.3M | -$193.4M | -$183.9M | -$78.8M | -$102.3M |
| EPS | $-0.07 | $-0.04 | $-0.37 | $-0.35 | $-0.40 | $-0.83 | $-0.59 | $-0.55 | $-0.23 | $-0.29 |
| EPS (Diluted) | $-0.07 | $-0.04 | $-0.37 | $-0.35 | $-0.40 | $-0.83 | $-0.59 | $-0.55 | $-0.23 | $-0.29 |
| Shares Outstanding (Diluted) | 237.3 M | 251.1 M | 237.3 M | 300.2 M | 299.8 M | 312.3 M | 326.3 M | 333.7 M | 341.4 M | 348.4 M |
Price
| Price | $280.70 (closing price, October 30, 2026) |
| Market Cap | $100.0B |
| Exchange | NYSE |
| Country | US |
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Explore sector: Technology · Software - Infrastructure
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