Netskope: Differentiated SASE Platform with Robust ARR Growth and Secular Cloud/AI Tailwinds Support Buy Rating

In a report released today, Brian Essex from J.P. Morgan maintained a Buy rating on Netskope, Inc., with a price target of $19.00.

Brian Essex has given his Buy rating due to a combination of factors, including Netskope’s consistent outperformance versus expectations and strong subscription metrics. Revenue, ARR, margins, and free cash flow all came in ahead of consensus, with ARR growing at a robust pace and a rising share of customers adopting multiple products on the platform, supporting durable expansion potential.

Essex also highlights Netskope’s differentiated architecture and NewEdge network as well suited for modern cloud and AI-driven traffic, positioning the firm favorably within the high-growth SASE market. Despite conservative guidance on near-term net new ARR and free cash flow, he views these as prudent rather than structural issues and believes improving operating leverage and secular tailwinds from cloud migration and GenAI adoption justify a Buy recommendation.

In another report released today, BTIG also assigned a Buy rating to the stock with a $17.00 price target.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTSK in relation to earlier this year.