Cloudflare Upgraded by BTIG, Shares Decline Amid Market Weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy NET?
Source: Benzinga
Cloudflare Inc's shares fell 3.76% as the stock hit a 20-day low, reflecting broader market trends with the Nasdaq-100 down 2.31% and the S&P 500 down 0.93%.
Despite the downgrade in share price, BTIG upgraded Cloudflare's rating from Neutral to Buy with a price target of $199, indicating strong confidence in the company's growth potential in the web application protection market. Analyst Gray Powell highlighted discussions with partners suggesting over $100 million in annual sales, and positive sentiment around Cloudflare's performance in the Zero Trust and SASE sectors, which could drive future revenue growth.
The upgrade may attract investor interest, but the current market conditions pose challenges. The stock's decline amidst a positive analyst outlook suggests a potential sector rotation, as investors may be reallocating funds in response to broader market weakness.
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Analyst Views on NET
Wall Street analysts forecast NET stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NET is 253.24 USD with a low forecast of 131.00 USD and a high forecast of 318.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
15 Buy
10 Hold
0 Sell
Moderate Buy
Current: 163.050
Low
131.00
Averages
253.24
High
318.00
Current: 163.050
Low
131.00
Averages
253.24
High
318.00
About NET
Cloudflare, Inc. is a connectivity cloud company. Its full suite of products consists of its website and application services to deliver security, performance, and reliability for an organization's websites, applications, and application programming interfaces (APIs); its secure access service edge (SASE) platform, which contains its suite of Zero Trust and network services solutions to help ensure traffic in and out of an organization’s internal network and devices is verified and authorized as well as to securely connect data centers, cloud services, and branch offices to an organization with its Connectivity Cloud; its developer-based solutions to build and deploy serverless applications with scale, performance, security and reliability, and its consumer offerings. Its website and application security product offerings include Web Application Firewall, Bot Management, Distributed Denial of Service Protection, API Security, SSL/TLS Encryption, Script Management, and Security Center.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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