Cloudflare Stock Plummets to 264th in Trading Volume Ranking Despite Bullish Analyst Upgrade

On March 26, 2025, Cloudflare (NET) experienced a significant decline, with its trading volume dropping by 59.79% to $313 million, placing it at the 264th position in the day's stock market rankings. The stock price of Cloudflare fell by 4.98%.

Bank of America Securities has given Cloudflare a rare double upgrade, changing its rating from "underperform" to "buy." This upgrade is based on the expectation that Cloudflare's revenue growth will accelerate. The analysts at Bank of America have also significantly raised their price target for Cloudflare stock to $160 from $60, applying a 20x multiple on calendar year 2026 earnings.

This upgrade reflects a positive outlook on Cloudflare's fundamentals, particularly its improvements in revenue growth and overall performance. The significant increase in the price target suggests that analysts are bullish on the company's future prospects, expecting substantial growth in the coming years.