Cybersecurity firm Netskope gains as IPO quiet period ends
** Shares of cybersecurity firm Netskope NNTSK rise nearly 1.20% to $22.01 in premarket after brokerages start covering the stock post-quiet period
** J.P. Morgan initiates coverage with an "overweight" rating and PT $26
** Brokerage says rising cloud and AI adoption is boosting already strong security demand, with co well-positioned to benefit in key areas like network, data and AI security
** Piper Sandler starts coverage with an "overweight" rating and PT $28; sees co as the fastest-growing organic cyber firm, driven by strong tech, rising margins and a revamped go-to-market strategy aligned with key industry trends
** Morgan Stanley and J.P. Morgan are the lead underwriters for the offering
** Its stock closed the previous session at $21.75, vs the IPO price of between $17 and $19 apiece
** The following brokerages started coverage on co
Brokerage | Rating | PT |
J.P.Morgan | Overweight | $26 |
Piper Sandler | Overweight | $28 |
RBC Capital Markets | Outerform | $26 |
Deutsche Bank | Buy | $25 |