On August 5, Cloudflare, Inc. declined 3.33% in regular trading, trading at approximately $291.31 per share, with turnover of $946 million.

The decline was driven by profit-taking ahead of the company's Q2 earnings release scheduled for after-hours on August 6, with market consensus expecting EPS of -$0.03. The stock had risen 3.51% in the prior session following the launch of @cloudflare/computer, an open-source library providing each AI agent with an independent virtual computing environment, and the introduction of Cloudflare Wallets, a programmable wallet designed for AI agents leveraging the x402 protocol for micropayments.

Mizuho and Scotiabank had previously raised their target prices to the $300-$310 range, reflecting optimism around AI-driven growth prospects. Scotiabank upgraded the stock to Sector Outperform with a $300 target. With the share price approaching these targets and earnings uncertainty looming, short-term selling pressure intensified as investors locked in gains accumulated from the recent AI product momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)