Cloudflare Inc. (NYSE:NET) reported better-than-expected fourth-quarter financial results and issued FY26 sales guidance above estimates on Tuesday.

Cloudflare reported quarterly earnings of 28 cents per share which beat the analyst consensus estimate of 27 cents per share. The company reported quarterly sales of $614.507 million which beat the analyst consensus estimate of $591.276 million.

The company said it sees full-year 2026 revenue in the range of $2.79 billion to $2.80 billion versus estimates of $2.74 billion. The company expects full-year adjusted earnings to be between $1.11 and $1.12 per share, versus estimates of $1.21 per share.

"We had an exceptionally strong end to 2025. In Q4, we closed our largest annual contract value deal ever — averaging $42.5 million per year — and total new ACV grew nearly 50 percent year-over-year, our fastest growth rate since 2021," said Matthew Prince, co-founder and CEO of Cloudflare.

Cloudflare shares gained 14% to $205.03 in pre-market trading.

These analysts made changes to their price targets on Cloudflare following earnings announcement.

• BTIG analyst Gray Powell maintained Cloudflare with a Buy and raised the price target from $199 to $243.
• Needham analyst Mike Cikos maintained the stock with a Buy and lowered the price target from $285 to $250.

Considering buying NET stock? Here’s what analysts think:

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