BTIG Research Initiates Coverage on Netskope (NASDAQ:NTSK)

Key Points

• BTIG Research has initiated coverage on Netskope (NASDAQ:NTSK) with a "buy" rating and a target price of $27.00, implying a potential upside of 24.14% from its current price.
• Multiple analysts, including Cowen and KeyCorp, have also provided favorable ratings on Netskope, with an average price target among them set at $26.55.
• Netskope's Director William J.G. Griffith recently bought 2 million shares at $19.00 each, a move that boosts his total holdings to about $213.5 million.

Research analysts at BTIG Research initiated coverage on shares of Netskope (NASDAQ:NTSK - Get Free Report) in a research note issued on Monday,Benzinga reports. The firm set a "buy" rating and a $27.00 price target on the stock. BTIG Research's price objective would indicate a potential upside of 24.14% from the stock's current price.

Several other research analysts have also issued reports on NTSK. Cowen began coverage on shares of Netskope in a research report on Monday. They issued a "buy" rating for the company. KeyCorp set a $27.00 price target on shares of Netskope and gave the stock an "overweight" rating in a research note on Monday. BMO Capital Markets set a $26.00 price target on shares of Netskope and gave the stock an "outperform" rating in a research note on Monday. Mizuho set a $25.00 price target on shares of Netskope in a research note on Monday. Finally, Piper Sandler set a $28.00 price target on shares of Netskope and gave the stock an "overweight" rating in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Netskope has an average rating of "Buy" and an average price target of $26.55.

Netskope Stock Performance

Shares of NASDAQ:NTSK opened at $21.75 on Monday. Netskope has a 52-week low of $21.00 and a 52-week high of $27.99.

Insider Activity at Netskope

In other news, Director William J.G. Griffith acquired 2,000,000 shares of the stock in a transaction dated Friday, September 19th. The stock was purchased at an average cost of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the purchase, the director owned 11,238,175 shares in the company, valued at approximately $213,525,325. The trade was a 21.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

About Netskope

We are redefining security and networking for the era of cloud and AI. The cloud and AI have completely revolutionized work. We are more dispersed, more productive, and more automated than ever before, and the rate of change is only accelerating. Not since the internet has there been such a transformative tectonic shift.

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