Cloudflare (NET) Q3 2026 earnings — TrendMatrix coverage

Adjusted EPS

$0.38

Estimate

$0.34

Surprise

+10.6%

Revenue (period 2026-09-30)

$782.5M

Score at report (before → after)

5.4 → 5.3/10

Revenue source: xbrl.

Cloudflare (NET) beat the $0.34 estimate with adjusted EPS of $0.38 — a large 10.6% upside surprise. TrendMatrix's engine moved from Sell (5.4/10) to Hold at 5.3/10 after the report — the engine's score fell despite the beat.

• Wolfe Research Upgrades Cloudflare to Outperform — benzinga, 2026-11-06

TrendMatrix currently rates NET Hold at 5.3/10.

4 of the last 4 quarters beat the estimate; this quarter's +10.6% surprise compares with a +7.1% four-quarter average.

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.

Current price

$272.98

Price target

$317.55

Stop

$253.87

Upside to target

+16.3%

Reward-to-risk

1.1:1

Model outputs from TrendMatrix’s engine as of 2026-11-06 — shown for context, not personalized investment advice.

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

$87.07B

P/E (fwd)

144.5

52-week range

$158.83–$370.35

Off 52-week high

26.3%

RSI (14)

43

Volume vs avg

1.32×

Score today

5.3/10