Ark Invest Dumps Roblox and Loads Up on Cloudflare. Here’s Why
TLDR
- Cloudflare Q2 revenue hit $696.1M, up 35.9% year over year, beating estimates of $664.7M
- Adjusted EPS of $0.29 topped the $0.27 consensus forecast
- Full-year 2026 revenue guidance raised to $2.864B-$2.870B
- Multiple Wall Street analysts raised price targets, with Goldman Sachs lifting its target to $389
- ARK Invest bought 114,134 Cloudflare shares while selling over 1.5 million Roblox shares
Cloudflare stock climbed to $313.40 on Friday, up $28.97 in midday trading, after the company reported strong second-quarter results and raised its full-year outlook.
Q2 revenue came in at $696.1 million, up 35.9% from the same period last year. That beat analyst expectations of $664.7 million by a comfortable margin.
Adjusted EPS of $0.29 also topped the $0.27 consensus. A year ago, the company posted $0.21 per share.
Wall Street Raises Price Targets
The earnings report triggered a wave of upward revisions from analysts.
Oppenheimer raised its target from $330 to $380, keeping an “outperform” rating. Goldman Sachs lifted its target from $266 to $389, citing agentic AI adoption and expansion of the Workers platform.
… Continue reading the full article at the original source below.
