Netskope initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Netskope (NTSK) with an Overweight rating and $28 price target The firm says Netskope is one of the few mid-cap companies that can deliver “strong” annual recurring revenue growth at scale with expanding profitability margins. The market evolution toward zero trust drives the sustainability of Netskope’s ARR growth, the analyst tells investors in a research note.