Cloudflare: Solid Q2 Execution, Strengthening AI-Driven Demand Lead Shrenik Kothari to Maintain Buy Rating and Lift Price Target to $300

Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on NET stock, giving a Buy rating on July 21.

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Shrenik Kothari has given his Buy rating due to a combination of factors, including solid second‑quarter execution and a constructive setup for the rest of the year. His checks point to healthy demand across large enterprises, strong partner feedback on Cloudflare’s security portfolio, and continued traction in Workers and Zero Trust, even as management navigates leadership transitions and near‑term margin pressures.

Kothari also highlights that Cloudflare’s revenue growth, billings profile, and operating margin expansion create room for upside if management’s third‑ and fourth‑quarter guidance confirms a clearer acceleration in the back half of the year. With rising AI and agent traffic driving usage toward higher caps and improving monetization, he believes the company’s strategic positioning and durable go‑to‑market motion justify maintaining a Buy rating and raising the price target to $300.

According to TipRanks, Kothari is a 5-star analyst with an average return of 23.4% and a 69.25% success rate. Kothari covers the Technology sector, focusing on stocks such as Palo Alto Networks, Cloudflare, and Fortinet.

In another report released on July 21, Truist Financial also maintained a Buy rating on the stock with a $300.00 price target.