Netskope (NTSK) PT Raised to $28 at KeyBanc

KeyBanc analyst Eric Heath raised the price target on Netskope (NASDAQ: NTSK) to $28.00 (from $27.00) while maintaining a Overweight rating.

The analyst comments "NTSK reported solid F3Q results as ARR accelerated 1pt to 34% y/y, NNARR again grew >45% y/y, and margins beat. F4Q revs guided solidly above. NTSK is seeing strong momentum as the SASE market is healthy, sales capacity is accelerating, and productivity rates improving. We remain positive on Netskope's differentiation with the NewEdge network, granular data security capabilities, and single platform vs. peers, along with the secular shift to clouddelivered network security and rising importance of data security due to AI. As such, we raise FY27E/FY28E revenue by 3% and raise PT to $28."

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