Cloudflare shares rise as AI/enterprise growth narrative keeps gaining traction

Cloudflare, Inc. (NET) is up 4.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears to be driven by continued bullish positioning around Cloudflare’s AI-related network traffic growth and improving enterprise deal momentum discussed in recent company commentary. Recent analyst actions and a “breakout/strong trend” setup after prior gains also likely added incremental demand from momentum-focused investors.

Details:

Management commentary tied Cloudflare’s 2026 outlook to rising AI-driven activity on its network and ongoing product demand across security, performance, and developer services.

Recent public discussion of large enterprise wins (including unusually large contract sizes highlighted around recent results and conference appearances) supported optimism that bigger customers are expanding spend.

Some market chatter has pointed to a technical uptrend after a multi-day advance, which can attract systematic and momentum buying even without a single new headline.

Separately, a recent analyst rating change/price-target reset highlighted what was described as underappreciated long-term growth potential, reinforcing the broader bull narrative.

Sources:

Cloudflare Investor Relations, Schaeffer's Research, Trefis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NET Insider Trading Activity

$NET insiders have traded $NET stock on the open market 359 times in the past 6 months. Of those trades, 0 have been purchases and 359 have been sales.

Here’s a breakdown of recent trading of $NET stock by insiders over the last 6 months:

MATTHEW PRINCE (CEO & Board Co-Chair) has made 0 purchases and 119 sales selling 785,760 shares for an estimated $154,445,867.
MICHELLE ZATLYN (President and Board Co-Chair) has made 0 purchases and 100 sales selling 557,358 shares for an estimated $110,512,912.
THOMAS J SEIFERT (Chief Financial Officer) has made 0 purchases and 59 sales selling 133,453 shares for an estimated $26,149,484.
CARL LEDBETTER has made 0 purchases and 20 sales selling 75,000 shares for an estimated $15,807,540.
JANEL RILEY (Chief Accounting Officer) has made 0 purchases and 9 sales selling 30,980 shares for an estimated $5,867,297.
DOUGLAS JAMES KRAMER (CHIEF LEGAL OFFICER) has made 0 purchases and 14 sales selling 27,000 shares for an estimated $5,593,849.
JOHN GRAHAM-CUMMING has made 0 purchases and 32 sales selling 10,080 shares for an estimated $2,129,181.
KATRIN SUDER has made 0 purchases and 2 sales selling 4,062 shares for an estimated $805,047.
MARK J HAWKINS has made 0 purchases and 4 sales selling 2,268 shares for an estimated $517,074.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NET Hedge Fund Activity

We have seen 558 institutional investors add shares of $NET stock to their portfolio, and 518 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 7,471,762 shares (-75.2%) from their portfolio in Q4 2025, for an estimated $1,473,057,878
BAILLIE GIFFORD & CO removed 5,024,793 shares (-23.0%) from their portfolio in Q4 2025, for an estimated $990,637,939
CAPITAL WORLD INVESTORS removed 4,689,869 shares (-11.6%) from their portfolio in Q4 2025, for an estimated $924,607,673
PITCAIRN CO removed 4,132,606 shares (-99.9%) from their portfolio in Q3 2025, for an estimated $886,815,921
JPMORGAN CHASE & CO added 3,045,901 shares (+28.8%) to their portfolio in Q4 2025, for an estimated $600,499,382
JENNISON ASSOCIATES LLC added 1,657,144 shares (+802.6%) to their portfolio in Q4 2025, for an estimated $326,705,939
CORIENT PRIVATE WEALTH LLC added 1,375,602 shares (+5785.7%) to their portfolio in Q4 2025, for an estimated $271,199,934

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NET Government Contracts

We have seen $1,030,426 of award payments to $NET over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

GOV TOP LEVEL DOMAIN REGISTRY AND DNS SERVICE: $1,030,426

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$NET Congressional Stock Trading

Members of Congress have traded $NET stock 5 times in the past 6 months. Of those trades, 3 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $NET stock by members of Congress over the last 6 months:

REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 02/04.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 4 times. They made 3 purchases worth up to $45,000 on 01/30, 11/18, 10/17 and 1 sale worth up to $15,000 on 12/24.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$NET Analyst Ratings

Wall Street analysts have issued reports on $NET in the last several months. We have seen 8 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 02/11/2026
BTIG issued a "Buy" rating on 02/11/2026
Mizuho issued a "Outperform" rating on 01/21/2026
Argus Research issued a "Buy" rating on 11/10/2025
Citigroup issued a "Buy" rating on 11/03/2025
RBC Capital issued a "Outperform" rating on 10/31/2025
Wells Fargo issued a "Overweight" rating on 10/31/2025

To track analyst ratings and price targets for $NET, check out Quiver Quantitative's $NET forecast page.

$NET Price Targets

Multiple analysts have issued price targets for $NET recently. We have seen 19 analysts offer price targets for $NET in the last 6 months, with a median target of $250.0.

Here are some recent targets:

Fatima Boolani from Citigroup set a target price of $265.0 on 02/12/2026
Joseph Gallo from Jefferies set a target price of $225.0 on 02/11/2026
Patrick Colville from Scotiabank set a target price of $225.0 on 02/11/2026
Matthew Hedberg from RBC Capital set a target price of $240.0 on 02/11/2026
James Fish from Piper Sandler set a target price of $222.0 on 02/11/2026
Saket Kalia from Barclays set a target price of $250.0 on 02/11/2026
Mike Cikos from Needham set a target price of $250.0 on 02/11/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.