Analyst Shrenik Kothari of Robert W. Baird maintained a Buy rating on Netskope, Inc., retaining the price target of $27.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors including Netskope, Inc.’s strong financial performance and strategic positioning. The company reported a significant year-over-year increase in Annual Recurring Revenue (ARR) and revenue, driven by the adoption of multiple products, AI-native data protection, and network modernization deals. This growth reflects Netskope’s ability to capitalize on current market trends and technological advancements.
Additionally, the company’s operational metrics have shown improvement, with operating margins increasing and free cash flow turning positive. The management’s prudent guidance for future revenue growth, supported by a broad product platform and strategic AI integration, further strengthens the company’s outlook. Netskope’s focus on innovation and expanding its customer base, particularly in securing cloud and AI workflows, positions it well for continued success. These factors collectively contribute to a favorable risk/reward profile, justifying the Buy rating.
In another report released on December 4, Oppenheimer also maintained a Buy rating on the stock with a $28.00 price target.
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.