Cloudflare Inc. (NET) stock surged 5% on Monday trading in the pre-market session, riding a wave of optimism surrounding the cybersecurity firm's growth prospects and positive analyst commentary.

Multiple analysts raised their price targets for Cloudflare, with Wells Fargo reiterating a Buy rating and a new $200 price target, citing the company's strong position in the rapidly growing cloud security market. Susquehanna also significantly increased its price target from $95 to $170, while keeping a Neutral rating.

Cloudflare's AI-powered cybersecurity solutions are seen as a key driver for future growth, as businesses increasingly adopt advanced security measures to combat evolving cyber threats. The company's cloud-based platform utilizes AI to provide real-time threat detection, automated incident response, and zero-day attack defense, positioning it as a leader in the AI cybersecurity space.