Wells Fargo & Company Initiates Coverage on Netskope (NASDAQ:NTSK)

Key Points

• Wells Fargo & Company has initiated coverage on Netskope (NASDAQ:NTSK) with an "overweight" rating and a price target of $28.00, indicating a potential upside of 19.45% from the current stock price.
• Five analysts have rated Netskope with a Strong Buy and eleven have issued a Buy rating, leading to a consensus rating of "Buy" and a target price of approximately $26.94.
• Netskope's Director, William J.G. Griffith, purchased 2 million shares at $19.00 each, increasing his stake in the company by 21.65% and valuing his ownership at around $213.5 million.

Research analysts at Wells Fargo & Company initiated coverage on shares of Netskope (NASDAQ:NTSK - Get Free Report) in a research report issued on Monday, Marketbeat reports. The brokerage set an "overweight" rating and a $28.00 price target on the stock. Wells Fargo & Company's price objective points to a potential upside of 19.45% from the company's current price.

Several other analysts have also recently commented on NTSK. UBS Group set a $27.00 target price on shares of Netskope in a research report on Monday. Citizens Jmp assumed coverage on shares of Netskope in a research note on Monday. They issued a "mkt outperform" rating and a $27.00 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 target on the stock. JMP Securities began coverage on shares of Netskope in a report on Monday. They issued a "market outperform" rating and a $27.00 target price on the stock. Finally, Citigroup started coverage on shares of Netskope in a report on Monday. They issued an "outperform" rating on the stock. Five equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.94.

Netskope Stock Performance

NTSK stock opened at $23.44 on Monday. Netskope has a fifty-two week low of $21.00 and a fifty-two week high of $27.99.

Insiders Place Their Bets

In related news, Director William J.G. Griffith bought 2,000,000 shares of the business's stock in a transaction on Friday, September 19th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $38,000,000.00. Following the completion of the transaction, the director directly owned 11,238,175 shares of the company's stock, valued at approximately $213,525,325. This represents a 21.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available 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.