5 Most Overvalued Quantum Computing Stocks According to Short Sellers

3. Cloudflare, Inc. (NYSE:NET)

Short Percentage of Shares Outstanding: 2.50%

Forward P/E: 141.54

On June 10, UBS raised its price target on Cloudflare, Inc. (NYSE:NET) to $250 from $220 while maintaining a Neutral rating following the company’s Investor Day presentation.

The same day, BTIG increased its price target to $269 from $243 and reiterated a Buy rating. The firm highlighted management’s bullish tone during Investor Day, where Cloudflare, Inc. (NYSE:NET) raised its long-term financial outlook and outlined a path toward achieving a “Rule of 50” profile by 2027. While BTIG acknowledged the planned retirement of President of Revenue Mark Anderson, it believes enterprise demand trends remain strong, and sales productivity continues to improve.

Founded in 2009 and headquartered in San Francisco, California, Cloudflare, Inc. (NYSE:NET) operates one of the world’s largest internet infrastructure and cybersecurity platforms. The company provides content delivery, network security, Zero Trust architecture, and cloud networking services that help organizations improve performance while protecting digital assets. Cloudflare has also emerged as a leader in quantum-safe cryptography, offering post-quantum encryption capabilities designed to protect internet traffic against future quantum computing threats.