Netskope, Inc. (NTSK) has received a new Buy rating, initiated by Robert W. Baird analyst, Shrenik Kothari.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Netskope, Inc.’s strong market positioning and growth potential. The company’s cloud-native architecture and expanded NewEdge infrastructure are well-suited to capitalize on the increasing demand for AI-driven data security solutions. This positions Netskope as a net share-gainer against traditional network vendors, especially as enterprises focus on data, AI, and zero-trust security models.
Furthermore, Netskope’s transition from a CASB/DLP provider to a comprehensive SASE/SSE-stack platform, along with impressive year-over-year ARR growth and net revenue retention, supports its sustained momentum. The company’s strategic positioning in high-growth markets such as data protection, zero trust, and cloud security, combined with its improved go-to-market execution and scalable growth trajectory, reinforces the Buy rating. The valuation, with a price target of $27, reflects a premium to its high-growth SaaS peers, justified by its potential to capture significant market share amid strong secular tailwinds.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NTSK in relation to earlier this year.