Cloudflare guided full-year revenue to about $2.8 billion; announced roughly 1,100 job cuts
2026-07-08 15:30:17
According to CNBC, Cloudflare is being repriced by investors beyond a cybersecurity platform as the stock (NET) broke above the $250 resistance level after months of consolidation near all-time highs, with $260 cited as a key support area and a prior high near $277. CNBC said management guided full-year revenue to roughly $2.8 billion and announced a workforce reduction of approximately 1,100 employees as part of a redesign toward an "agentic operating model." The report also cited Q1 revenue growth of 34% and current RPO growth of 34%, and outlined an options idea: selling the Aug. 21, 2026 $260 put and buying the Aug. 21, 2026 $230 put for an $11.68 credit, with a breakeven of $248.32.
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