CLOUDFLARE, INC.
In the published model solve dated 2026-Q2, anchored at $292.61, CLOUDFLARE, INC. (NET) is priced for today's economics sustained for ~34.7 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
Cloudflare runs a global network for security, performance, and developer services, and the most striking thing in the data is the contrast: a trailing GAAP operating margin of about negative 9% sitting on a 74.5% gross margin and 34% revenue growth, while the company adds record large customers and a million developers in a single quarter. It loses money on paper while compounding the metrics that define a durable software platform. At $223.95 the price is set against sales because the busines
Is NET overvalued? See what's priced in →
1,093 institutional managers reported holding NET in 13F filings for the quarter ended 2026-03-31. Together they hold about 77% of the company; the top 10 hold 43%. 158 opened new positions that quarter. Held by Vanguard Group, Capital Group (American Funds), BlackRock, among others. On the short side, 8.9M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NET's share count grew 14.4% over the past five years even with $57k spent on repurchases. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at NET over the trailing three years. Absence is a fact about the company, not a signal. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NET's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | +8.4% | -10.0% |
| 2023-11-03 | +17.2% | +18.4% |
| 2024-02-22 | +29.5% | -12.8% |
| 2024-05-03 | -15.5% | +16.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NET's latest 8-K filings: 2026-08-06 (items 2.02, 7.01, 9.01); 2026-06-30 (items 5.02, 5.07, 9.01); 2026-05-07 (items 2.02, 7.01, 9.01); 2026-02-10 (items 5.02, 9.01); 2026-02-10 (items 2.02, 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.