Cloudflare (NET) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $0.29
- Estimate
- $0.27
- Surprise
- +7.5%
- Revenue (period 2026-06-30)
- $696.1M
- Score at report (before → after)
- 5.5 → 5.4/10
Revenue source: xbrl.
How the report landed
Cloudflare (NET) beat the $0.27 estimate with diluted EPS of $0.29 — a clear 7.5% upside surprise. TrendMatrix's engine moved from Sell (5.5/10) to Hold at 5.4/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates NET Hold at 5.2/10.
4 of the last 4 quarters beat the estimate; this quarter's +7.5% surprise compares with a +8.3% four-quarter average. Next scheduled report: 2026-10-29.
What supports the rating
- Strong earnings beat streak (4/4)
- Positive news sentiment (+0.83)
What argues against it
- Thin upside margin: 4.7%
- Leverage penalty (D/E 2.2): -1.5
- Expensive valuation
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $294.77
- Price target
- $306.87
- Stop
- $272.62
- Upside to target
- +4.1%
- Reward-to-risk
- 0.3:1
Model outputs from TrendMatrix’s engine as of 2026-08-23 — shown for context, not personalized investment advice.
NET at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Infrastructure
- Market cap
- $104.38B
- P/E (fwd)
- 175.4
- 52-week range
- $158.83–$332.22
- Off 52-week high
- 11.3%
- RSI (14)
- 53
- Volume vs avg
- 0.72×
- Score today
- 5.2/10