Netskope (NTSK) PT Raised to $26 at Mizuho

Mizuho analyst Gregg Moskowitz raised the price target on Netskope (NASDAQ: NTSK) to $26.00 (from $25.00) while maintaining a Outperform rating.

The analyst comments "NTSK reported a strong quarter in its first as a public company. Total ARR growth of 34% Y/Y materially beat the Street's 26% growth forecast. Revenue was also easily above, margins nicely surpassed expectations, and F4Q guidance was healthy. While the shares are indicated lower AH, we would not be concerned and believe it's a function of an outsize move ahead of the print (stock up 33% since mid-November). As discussed in our initiation report, we believe NTSK is poised to capitalize on a number of important growth drivers and initiatives, including rising demand for cloud-based security and networking technologies, ongoing legacy displacement activity, accelerating sales capacity, further cross-sell and upsell, and AI security. NTSK has also driven significant gross margin expansion, and we're cautiously optimistic that its currently subpar profitability will materially improve too. Reiterate Outperform, and raise PT slightly to $26 from $25 on the exhibited fundamental strength."

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