Cloudflare is expected to report Q1 2026 revenue of $621.9 million and non-GAAP EPS of $0.23, with its current stock price of $244.43 trading just above the consensus analyst price target of $236.72.
Investors are primarily focused on the company's ability to monetize the "agentic Internet," specifically looking for growth in AI-driven traffic and expansion in its large enterprise customer base. This follows a strong Q4 2025 performance where revenue grew 34% year-over-year and the company signed a record-breaking $130 million seven-year contract. Market watchers are specifically gauging whether the adoption of the Workers AI platform and new inference infrastructure can offset macro pressures and maintain high dollar-based net retention.