Shares in Cloudflare (NET) stock have hit a new all-time high of $230.31 on Thursday, continuing its strong year of growth. The IT service company reported its quarterly earnings on Thursday, posting a better-than-expected report that surpassed Wall Street Forecasts. This uptick comes among a year of substantial growth, with the stock up 111.16% since the start of the year.

Cloudflare Inc. has been active with several strategic developments throughout 2025. The company announced a new suite of incident response and security services under its Cloudforce One division, which combines threat intelligence with network-native defense capabilities. Furthermore, Cloudflare is also collaborating with major payment networks like Visa, Mastercard, and American Express to create an authentication layer for AI-powered shopping.

Furthermore, Cloudflare’s expansion of its threat intelligence offerings with the Cloudforce One platform demonstrates its proactive approach to combating cybercrime. By leveraging its vast global network, which processes an astounding average of 227 billion cyber threats daily, Cloudflare is positioning itself as a critical player in the fight against increasingly sophisticated attacks.

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These announcements prompted Citizens to maintain its Market Outperform rating for Cloudflare, reiterating a $250.00 price target. However, despite the overwhelmingly positive outlook, some analysts remain cautious. Goldman Sachs analyst Gabriela Borges, for instance, has expressed concerns about Cloudflare’s valuation, noting that the stock trades at a premium compared to its rivals.