Cloudflare jumps 6% after Deno team joins its platform

Shares of Cloudflare jumped 6% in afternoon trading, touching a new 52-week high of $361.88 per share. The move followed an announcement that the Deno team joined its platform to simplify self-hosting Workers and Durable Objects, as well as an analyst upgrade.

Cloudflare explained in a blog post that the integration merges workerd and celld to let developers use identical primitives across multiple hosting environments. StreetInsider reported that Oppenheimer analyst Param Singh raised the firm's price target on the stock to $430 during a broader market rebound on Friday, October 9.

The technical additions capped a series of weekly announcements covering open-source projects, application security, post-quantum cryptography, and artificial intelligence agents. Cloudflare also noted that more than 750 builders across 48 internal teams have shipped products under its initiative to recruit 1,111 interns. Four days earlier, the stock had gained 3.4% after blog data ranked Cloudflare as the fastest provider across 74% of the top 1,000 networks.

The company has recorded 38 daily price moves greater than 5% over the past year. Cloudflare shares have gained 84.6% since the start of the year, turning a $1,000 investment made five years ago into $2,509.