Netskope Inc (NASDAQ:NTSK) on Wednesday reported better-than-expected second-quarter financial results and raised its FY27 guidance.
Netskope reported quarterly losses of 3 cents per share which beat the analyst consensus estimate of losses of 7 cents per share. The company reported quarterly sales of $220.541 million which beat the analyst consensus estimate of $214.182 million.
Netskope raised its FY2027 sales guidance from $879.000 million-$883.000 million to $888.000 million-$892.000 million.
“We are pleased with our strong second quarter performance, exceeding our guidance across every metric. Our results were driven by continued differentiating organic innovation, and durable customer demand for our Netskope One platform across security, networking, analytics and AI,” said Sanjay Beri, CEO of Netskope. “We are encouraged by early traction with our AI Security solutions, validating that Netskope sits right at the intersection of cloud, AI, networking and security and is becoming part of the essential, adaptive fabric for the modern enterprise to adopt AI safely. With our rapid product innovation, we are well positioned to go after our massive market opportunity.”
Netskope shares jumped 13.8% to $15.64 in pre-market trading.
These analysts made changes to their price targets on Netskope following earnings announcement.
- BTIG analyst Gray Powell maintained the stock with a Buy and raised the price target from $17 to $18.
- Baird analyst Shrenik Kothari maintained the stock with an Outperform rating and raised the price target from $18 to $20.
- Rosenblatt analyst Catharine Trebnick maintained the stock with a Buy and boosted the price target from $18 to $19.
Considering buying NTSK stock? Here’s what analysts think:
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