Netskope initiated with an Overweight at KeyBanc

KeyBanc initiated coverage of Netskope (NTSK) with an Overweight rating and $27 price target The firm believes Netskope is a “leading beneficiary” of two long-term secular trends: the shift from traditional network security to a cloud-delivered, zero-trust architecture; and the increasing importance of data security with artificial intelligence adoption. The company has several catalysts for continued strong growth in the near-term, including accelerated hiring, improving sales productivity, and cyclical tailwinds, the analyst tells investors in a research note.