Cloudflare (NET) is well-positioned for artificial intelligence agents and is likely ahead of schedule on its $5 billion revenue target by 2028, RBC Capital Markets said in a research report emailed Friday.

The company is poised to monetize AI and agentic build out as many of the top frontier models leverage the company's services, according to the note.

The company is likely to offer insights at its June 9 analyst day into how agent-driven productivity decouples traditional inputs from output, allowing it to move toward the Rule of 50 and sustaining durable growth and margin expansion, analysts wrote.

The brokerage said it reiterated its outperform rating on the stock and price target of $240 per share.

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