Wells Fargo Starts Netskope (NTSK) at Overweight

Wells Fargo analyst Andrew Nowinski initiates coverage on Netskope (NASDAQ: NTSK) with a Overweight rating and a price target of $28.00.

The analyst comments "We are initiating coverage of NTSK with an OW rating and $28 PT. Netskope is one of the few mid-cap companies that can deliver strong ARR growth at scale with expanding profitability margins on the heels of the market transition toward Zero Trust. There are four key tenets of our investment thesis: 1) Architectural advantages increase durability of ARR growth, 2) Market evolution toward Zero Trust drives the sustainability of ARR growth, 3) Gross margin is set to expand, and 4) Operating margin should reach break-even in FY28."

For an analyst ratings summary and ratings history on Netskope click here. For more ratings news on Netskope click here.

Shares of Netskope closed at $21.75 yesterday.

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