On June 11, Cloudflare rose 3.11% in regular trading, trading at $223.45/share, with trading volume of $87.79 million. The stock rebounded after declining from approximately $265 to $228 over the prior week following its acquisition of open-source company VoidZero.
The rebound comes amid supportive analyst commentary. RBC Capital Markets noted that Cloudflare is expected to deliver on its updated long-term targets, with management stating it remains on track to exceed its $5 billion revenue target ahead of 2028. Additionally, Morgan Stanley raised its price target to $305 from $245, maintaining an Overweight rating, citing confidence in margin recovery, platform growth, Edge AI plans, and Agentic Web opportunities following the company's June 9 investor day.
Within the Internet Services & Infrastructure sector, performance was mixed. Among individual stocks, DigitalOcean up 1.92%, Applied Digital up 0.47%, Shopify down 1.82%, Snowflake down 1.13%, CoreWeave down 2.90%.
(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.)