NET
The Street is still playing catch-up
BTIG analyst Gray Powell gave Cloudflare a little more runway, raising the price target from $382 to $413 while keeping a Buy rating in place. The takeaway? He thinks the company’s growth engine is still humming, and the chatter from partners and industry folks was mostly upbeat.
Growth is doing the heavy lifting
Powell said feedback from several Cloudflare contacts was broadly positive, including partners seeing stronger year-to-date growth and a European distributor talking up market share gains and a bigger enterprise push. That matters because Cloudflare has long had the “cool growth story, but can it scale upmarket?” question hanging over it like a rain cloud.
Earnings are the next big test
The analyst now sees the possibility of fourth-quarter revenue landing around $800 million, a hair above Street estimates. More immediately, the market is eyeing Cloudflare’s upcoming earnings report on October 29th, which could either validate all this optimism or turn the stock’s caffeine buzz into a crash landing.
Big picture
Cloudflare is still trying to prove it can be more than a fast-growing internet favorite — it wants to look like a durable enterprise platform too. If the numbers keep trending the right way, the stock gets support; if not, the market will remind everyone that hype is not a moat.