Movement Alert|Cloudflare, Inc. Rises 10.4% in Regular Trading, Q2 Earnings Beat and Full-Year Guidance Raise Spark Rally to All-Time High

Market Focus08-07 21:37

On August 7, Cloudflare, Inc. rose 10.4% in regular trading, reaching $317.27 per share with turnover of $381 million, hitting an all-time high as the market digested a strong Q2 earnings report released the prior evening.

On the news front, Cloudflare posted Q2 adjusted EPS of $0.29, beating the consensus estimate of $0.27 by 7.41% and representing a 38.1% year-over-year increase. Q2 revenue came in at $696.1 million, significantly surpassing the $664.7 million estimate, up 35.8% YoY. The company raised its full-year revenue guidance to $2.86–2.87 billion from $2.805–2.813 billion, and lifted adjusted EPS expectations to $1.25–1.26 from $1.19–1.20, both above Wall Street consensus. Q3 guidance of $0.34 EPS on $736–737 million revenue also topped estimates.

The rapid proliferation of AI agents driving increased network traffic was cited as the core catalyst behind the acceleration in cloud security demand. Multiple investment banks raised price targets following the report, including Mizuho to $375, Morgan Stanley to $370, BTIG to $382, and Scotia Bank to $390, further boosting investor confidence.

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