Is Cloudflare Overvalued?
2026-06-23 06:50:00 ET
Cloudflare (NYSE: NET) hasn't fared as well as other cybersecurity stocks this year. It's only up 13.8% year to date, while competitors like CrowdStrike (NASDAQ: CRWD) and Fortinet (NASDAQ: FTNT) are up by 49% and 87% year to date, respectively. This gap may exist for a reason, and there is good cause to believe that Cloudflare is overvalued, even at current levels.
Image source: Getty Images.
Cloudflare's first-quarter results once again showed a net operating loss , which is one of the major headwinds holding the stock back from a higher valuation. Solid growth rates matter, but when a company has been around for more than 15 years, profitability matters a lot more.
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