Wall Street Says Investors Are Missing Cloudflare’s Biggest AI Opportunity

Cloudflare (NET) received a strong vote of confidence this week. Scotiabank upgraded NET stock to “Sector Outperform” and raised its price target from $225 to $300. This is one of the most bullish calls on Wall Street, with the average consensus being $251.27 according to Barchart's Analyst Ratings data.

Analyst Patrick Colville said that he spent more than four weeks digging into the company before concluding that now is the time to own it. Colville’s bullish view comes from a combination of factors. The big one is that Cloudflare’s Workers platform is quietly becoming the go-to place for building AI-generated apps, including tools like OpenAI Codex and Lovable. The analyst feels that investors haven’t fully realized its significance yet.