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Cybersecurity firm Netskope gains as IPO quiet period ends

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** 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

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