Netskope (NASDAQ:NTSK) Now Covered by JMP Securities

Key Points

• JMP Securities has initiated coverage of Netskope (NASDAQ:NTSK) with a "market outperform" rating and a price target of $27.00, indicating a potential upside of 17.85% from its previous close.
• A series of analysts, including Wells Fargo and TD Cowen, also provided positive ratings for Netskope, with the average target price across 17 analysts set around $26.94.
• Netskope stock rose by 5.3% on Monday, closing at $22.91, with significant insider buying noted from Director William J.G. Griffith, who purchased 2 million shares at $19.00 each.

Stock analysts at JMP Securities initiated coverage on shares of Netskope (NASDAQ:NTSK - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set a "market outperform" rating and a $27.00 price target on the stock. JMP Securities' target price points to a potential upside of 17.85% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. Independent Research set a $27.00 target price on shares of Netskope in a research note on Monday. TD Cowen started coverage on Netskope in a research note on Monday. They set a "buy" rating and a $30.00 target price for the company. Wells Fargo & Company initiated coverage on Netskope in a research note on Monday. They set an "overweight" rating and a $28.00 target price for the company. KeyCorp initiated coverage on shares of Netskope in a research report on Monday. They set an "overweight" rating and a $27.00 price objective for the company. Finally, BTIG Research initiated coverage on shares of Netskope in a research report on Monday. They set a "buy" rating and a $27.00 price objective for the company. Seventeen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $26.94.

Netskope Stock Up 5.3%

NASDAQ:NTSK traded up $1.16 during trading hours on Monday, hitting $22.91. 573,957 shares of the company were exchanged, compared to its average volume of 3,733,129. Netskope has a one year low of $21.00 and a one year high of $27.99.

Insiders Place Their Bets

In other Netskope news, Director William J.G. Griffith acquired 2,000,000 shares of the business's stock in a transaction on Friday, September 19th. The shares were acquired at an average price of $19.00 per share, with a total value of $38,000,000.00. Following the completion of the transaction, the director owned 11,238,175 shares in the company, valued at approximately $213,525,325. This trade represents a 21.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Netskope Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.