Cloudflare (NET.US) performance crushes expectations thanks to "AI proxy traffic", prompting Wall Street to collectively raise target prices

Jitou Finance APP has learned that Cloudflare (NET.US) has released its financial report for the second quarter of fiscal year 2026 ending June 30, with all key metrics significantly surpassing Wall Street expectations, and revenue achieving accelerated growth for the second consecutive quarter. Boosted by this, the stock surged over 16% in pre-market trading. Following the earnings release, several Wall Street institutions quickly raised Cloudflare's target price, with the highest increase reaching 42%.