On May 28, Cloudflare rose 4.74% in regular trading, trading at $215.05 per share, with trading volume of approximately $54.71 million. The rebound follows the prior session's 4.2% decline triggered by layoff controversy and softer-than-expected Q2 revenue guidance.

On the news front, RBC Capital Markets reiterated its Outperform rating and $240 price target on the stock, stating that Cloudflare is well-positioned in the AI agent space as many top frontier models leverage the company's services. The brokerage noted the company is likely ahead of schedule on its $5 billion revenue target by 2028 and highlighted the upcoming June 9 analyst day as a potential catalyst for further insights into agent-driven productivity gains and margin expansion toward the Rule of 50.

Within the Internet Services & Infrastructure sector, the broader group exhibited strength. Among individual stocks, Snowflake surged 32.66%, MongoDB rose 7.99%, Shopify gained 1.73%, CoreWeave rose 0.87%, and Applied Digital was roughly flat at 0.04%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)