Cloudflare (NYSE:NET) Sees Citigroup Upgrade and Record Highs

Font: Financial Modeling Prep  • Nov 03, 2025

• Citigroup upgraded Cloudflare (NYSE:NET) to a "Buy" rating and increased its price target from $255 to $318.
• Cloudflare's stock reached an all-time high, with a notable increase of 13.84%, showcasing its impressive growth trajectory.
• The company's market capitalization stands at approximately $88.72 billion, indicating its significant presence in the tech industry.

Cloudflare (NYSE:NET) is a prominent player in the tech industry, known for its web infrastructure and website security services. The company provides a range of services, including content delivery network (CDN) solutions, internet security, and DDoS mitigation. Cloudflare competes with other tech giants like Akamai Technologies and Amazon Web Services in the CDN and cybersecurity space.

On November 3, 2025, Citigroup upgraded Cloudflare's stock to a "Buy" rating, with the stock priced at $253.3 at the time. Citigroup also increased its price target for Cloudflare from $255 to $318. This upgrade reflects growing confidence in Cloudflare's market position and future growth potential.

Cloudflare's stock has reached an all-time high, a milestone that has captured investor interest. Despite the focus on larger tech companies, George Tsilis points out Cloudflare as a noteworthy contender. The company's recent earnings report has been a significant driver, pushing its stock to these record levels.

The stock has seen a notable increase of 13.84%, equivalent to a $30.80 rise. Today, it fluctuated between $234.14 and $254.30, with the latter marking its highest price in the past year. The lowest price for the year was $85.60, highlighting the stock's impressive growth trajectory.

Cloudflare's market capitalization is approximately $88.72 billion, indicating its substantial presence in the tech industry. The trading volume today is 9,474,184 shares, reflecting strong investor interest and activity in the stock.