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 that highlight Netskope, Inc.’s strong market position and growth potential. The company is experiencing increased demand for its AI-driven SASE and DLP security solutions, which are gaining traction against traditional vendors. This is supported by positive channel and partner feedback, indicating above-plan execution and competitive wins in key markets.
Despite the stock’s recent underperformance, which is attributed more to general IPO market conditions than company-specific issues, Netskope’s valuation remains attractive. The company’s differentiated architecture, strong ARR visibility, and solid execution provide a promising outlook. Additionally, the expanding SASE and Zero Trust markets present significant growth opportunities, reinforcing the Buy rating as Netskope continues to be a pivotal player in these areas.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $30.00 price target.