Cloudflare (NET.US) achieved results that exceeded expectations thanks to "AI proxy traffic," leading Wall Street to collectively raise target prices.

According to Zhito Finance APP, Cloudflare (NET.US) announced its second-quarter financial report for the fiscal year 2026, ending June 30. All core metrics significantly exceeded Wall Street expectations, with revenue achieving accelerating growth for the second consecutive quarter. In response, the stock surged over 16% in pre-market trading. Following the release of the financial report, several Wall Street institutions swiftly raised Cloudflare's price target, with the highest adjustment reaching 42%.