Netskope (NTSK)
Market Price (11/3/2026): $22.5 | Market Cap: $9.2 BilSector: Information Technology | Industry: Systems Software
Netskope (NTSK)
Market Price (11/3/2026): $22.5Market Cap: $9.2 BilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30% Megatrend and thematic driversMegatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Network Security, Show more. | Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -84% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -760 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -95% Stock price has recently run up significantly6M Rtn6 month market price return is 113% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 79% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.3% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 146% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% Key risksNTSK key risks include [1] widening net losses driven by its strategy of prioritizing growth over profitability and [2] the constant need for heavy R&D investment to keep pace with rapid technological change and intense competition. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 30% |
| Megatrend and thematic driversMegatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Network Security, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -84% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -760 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -95% |
| Stock price has recently run up significantly6M Rtn6 month market price return is 113% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 79% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.3% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 146% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% |
| Key risksNTSK key risks include [1] widening net losses driven by its strategy of prioritizing growth over profitability and [2] the constant need for heavy R&D investment to keep pace with rapid technological change and intense competition. |
Qualitative Assessment
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Netskope (NTSK) stock has gained about 75% since 7/31/2026 because of the following key factors:
1. Netskope's fiscal Q2 2027 results, reported on September 2, 2026, significantly surpassed analyst expectations, showcasing strong operational performance. The company reported an adjusted loss of $0.03 per share, notably better than the anticipated $0.11 loss per share. Additionally, revenue reached $221 million, exceeding forecasts of $214.2 million. This strong performance was underpinned by a 27% year-over-year increase in Annual Recurring Revenue (ARR) to $899 million as of July 31, 2026, and an improved net retention rate of 114%. Following this announcement, Netskope also raised its full-year fiscal 2027 revenue guidance to between $888 million and $892 million.
2. Growing demand for Netskope's AI security products significantly boosted investor confidence. Management specifically highlighted increasing interest in AI security offerings like Agentic Broker and AI Guardrails, with these solutions progressing into proof-of-concept stages. This focus on AI-driven security addresses a critical and expanding market, positioning Netskope as a key player in securing the evolving AI landscape.
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Netskope (NTSK) stock has gained about 75% since 7/31/2026 because of the following key factors:
1. Netskope's fiscal Q2 2027 results, reported on September 2, 2026, significantly surpassed analyst expectations, showcasing strong operational performance. The company reported an adjusted loss of $0.03 per share, notably better than the anticipated $0.11 loss per share. Additionally, revenue reached $221 million, exceeding forecasts of $214.2 million. This strong performance was underpinned by a 27% year-over-year increase in Annual Recurring Revenue (ARR) to $899 million as of July 31, 2026, and an improved net retention rate of 114%. Following this announcement, Netskope also raised its full-year fiscal 2027 revenue guidance to between $888 million and $892 million.
2. Growing demand for Netskope's AI security products significantly boosted investor confidence. Management specifically highlighted increasing interest in AI security offerings like Agentic Broker and AI Guardrails, with these solutions progressing into proof-of-concept stages. This focus on AI-driven security addresses a critical and expanding market, positioning Netskope as a key player in securing the evolving AI landscape.
3. Positive analyst sentiment and multiple price target upgrades provided substantial upward momentum. On November 2, 2026, BTIG raised its price target for Netskope to $30 from $22, maintaining a Buy rating, citing improving demand trends and competitive advantages in AI security. Other firms, including RBC Capital, BMO Capital, Piper Sandler, and Morgan Stanley, also increased their price targets, acknowledging the strong fiscal Q2 2027 results, improving ARR trends, and the strategic importance of AI in the company's product portfolio. Zacks Research upgraded Netskope to a "strong-buy" rating on October 26, 2026.
4. Significant insider buying activity indicated strong internal confidence in the company's future prospects. Following a period of sell-off in early July, Netskope's largest backer purchased $7.2 million worth of stock on July 12, 2026. The next day, ICONIQ made another multi-million dollar buy of 610,000 Netskope shares, further underscoring a belief in the stock's potential from major investors.
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Stock Movement Drivers
Fundamental Drivers
The 74.7% change in NTSK stock from 7/31/2026 to 11/2/2026 was primarily driven by a 65.8% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.59 | 22.00 | 74.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 753 | 803 | 6.6% |
| P/S Multiple | 6.7 | 11.1 | 65.8% |
| Shares Outstanding (Mil) | 400 | 405 | -1.1% |
| Cumulative Contribution | 74.7% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| NTSK | 74.7% | |
| Market (SPY) | 0.7% | 39.7% |
| Sector (XLK) | -0.6% | 42.5% |
Fundamental Drivers
The 120.9% change in NTSK stock from 4/30/2026 to 11/2/2026 was primarily driven by a 98.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.96 | 22.00 | 120.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 709 | 803 | 13.2% |
| P/S Multiple | 5.6 | 11.1 | 98.4% |
| Shares Outstanding (Mil) | 398 | 405 | -1.6% |
| Cumulative Contribution | 120.9% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| NTSK | 120.9% | |
| Market (SPY) | 4.9% | 25.6% |
| Sector (XLK) | 9.4% | 28.8% |
Fundamental Drivers
The -6.9% change in NTSK stock from 10/31/2025 to 11/2/2026 was primarily driven by a -22.9% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.64 | 22.00 | -6.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 538 | 803 | 49.1% |
| P/S Multiple | 14.4 | 11.1 | -22.9% |
| Shares Outstanding (Mil) | 328 | 405 | -19.0% |
| Cumulative Contribution | -6.9% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| NTSK | -6.9% | |
| Market (SPY) | 11.2% | 31.5% |
| Sector (XLK) | 16.3% | 35.0% |
Fundamental Drivers
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Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| NTSK | ||
| Market (SPY) | 86.0% | 32.4% |
| Sector (XLK) | 116.2% | 35.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NTSK Return | - | - | - | - | -22% | 25% | -2% |
| Peers Return | 8% | -42% | 55% | 11% | -5% | -1% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| NTSK Win Rate | - | - | - | - | 50% | 55% | |
| Peers Win Rate | 52% | 35% | 60% | 62% | 54% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| NTSK Max Drawdown | - | - | - | - | - | -56% | |
| Peers Max Drawdown | -22% | -53% | -30% | -35% | -34% | -37% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GEN, S, PATH, CVLT, BBCI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)
How Low Can It Go
NTSK has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.0% | -7.8% |
| % Gain to Breakeven | 20.4% | 8.5% |
| Time to Breakeven | 92 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.0% | -9.5% |
| % Gain to Breakeven | 11.2% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
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NTSK has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.5% | -53.4% |
| % Gain to Breakeven | 106.2% | 114.4% |
| Time to Breakeven | 797 days | 1085 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Netskope (NTSK)
Netskope (NTSK) offers a unified, cloud-native security and networking platform designed to address the challenges of the modern digital landscape, which has been revolutionized by cloud and AI technologies. Traditional security and network solutions struggle to protect organizations amidst dispersed users, non-human entities, and interactions across a vast array of managed and unmanaged cloud applications, AI services, and private systems. This often forces businesses to compromise between security and performance, while facing sophisticated cyber threats and complex compliance risks.
The company's core offering is the Netskope One platform, which converges advanced security, modern networking, and deep analytics. Built from the ground up with a unique architecture, it provides real-time contextual intelligence into digital interactions. For instance, the platform can detect and prevent sensitive corporate data from being entered into personal AI tools like ChatGPT, redirecting users to secure corporate instances. This is powered by proprietary AI models and delivered globally via their NewEdge private cloud network, comprising over 120 edge data centers, ensuring high performance and a seamless user experience by bringing security capabilities closer to the end-user.
Netskope serves a wide range of enterprises globally, including over 30% of the Fortune 100 and approximately 18% of the Forbes Global 2000. Their customers rely on Netskope One to protect sensitive data, stop threats, accelerate digital interactions, and achieve operational simplicity. The company operates within a substantial and growing total addressable market for security and networking, projected to reach $138.9 billion by 2028, with an additional $9.9 billion opportunity specifically in AI security.
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Zscaler for cloud and AI security.
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- Netskope One Platform: A unified, cloud-native platform that converges advanced security, modern networking, and deep analytics to secure and accelerate enterprise digital interactions.
- Cloud Security Services: These services, part of the Netskope One platform, provide profound contextual intelligence to protect sensitive data, stop threats, and ensure regulatory compliance.
- Modern Networking Services: Delivered through the global NewEdge network, these services accelerate digital interactions and provide seamless, high-performance access to applications without compromising security.
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Netskope (NTSK) primarily sells its services to other companies (B2B).
The company does not explicitly name specific major customer companies in the provided description. Therefore, no specific customer company names or their stock symbols can be listed.
However, Netskope characterizes its customer base as:
- Some of the largest and most complex organizations around the world and across industries.
- As of July 31, 2025, more than 30% of the Fortune 100 companies.
- As of July 31, 2025, approximately 18% of the Forbes Global 2000 companies.
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Sanjay Beri
Chief Executive Officer
Sanjay Beri is the Co-founder and CEO of Netskope, which he launched in 2012. He has over two decades of experience in the cloud, networking, and security industries. Before founding Netskope, he served as Vice President and General Manager of Juniper Networks' secure access business unit. Beri also co-founded Ingrian Networks, a database security company, in 1999, which was later acquired by SafeNet in 2003. He holds an MBA from the University of California, Berkeley, and a Master of Science in Electrical Engineering from Stanford University.
Drew Del Matto
Chief Financial Officer
Drew Del Matto brings over 25 years of experience in technology and finance to Netskope, with a strong background in the security and network markets and a focus on driving growth. His expertise includes scaling financial operations for high-growth companies. While the provided information does not explicitly state if he founded or sold other companies, or if he has a pattern of managing private equity-backed companies, his career has spanned various leadership finance roles in the tech industry.
Krishna Narayanaswamy
Chief Technology Officer
Krishna Narayanaswamy is a Co-founder and Chief Technology Officer at Netskope. He is crucial in shaping the company's technological vision and strategy, overseeing the development of cloud security solutions. His extensive background includes roles in engineering and system architecture at companies such as Juniper Networks, Top Layer Networks, and FORE Systems.
John Martin
Chief Product Officer
John Martin serves as the Chief Product Officer at Netskope, where he is responsible for the company's product strategy and innovation. He brings over 20 years of experience to Netskope, with a history of developing market-defining products in cloud-native, networking, and security domains. Prior to Netskope, Martin held leadership roles at Sysdig, Pindrop, Riverbed Technology, and NetApp.
Scott Hogrefe
Chief Marketing Officer
Scott Hogrefe is the Chief Marketing Officer at Netskope, specializing in driving the company's marketing strategy and enhancing brand visibility. His career includes significant roles at Productiv, Citrix, and Brocade, where he focused on product marketing and corporate communications. Hogrefe joined Netskope in August 2013 and has been instrumental in leading various marketing initiatives.
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- Netskope faces a significant risk in its ability to continuously innovate and adapt its platform to keep pace with the rapidly evolving cybersecurity threat landscape and technological advancements, particularly in AI. The company operates in a dynamic digital environment where cyber adversaries increasingly leverage cloud and AI technologies to launch sophisticated and rapidly morphing attacks, such as ransomware and deepfakes. Netskope's value proposition is built on providing profound contextual intelligence to secure digital interactions with precision and stop threats. Failure to consistently develop and integrate new capabilities to counter these evolving threats and to support new technologies could undermine the efficacy of its platform, diminish its technology leadership, and negatively impact its competitive position and customer retention.
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Netskope's unified solution, which converges advanced security and modern networking capabilities with deep analytics, addresses a global total addressable market projected to reach $138.9 billion by 2028, growing at a 16.8% compound annual growth rate (CAGR) from 2024 to 2028.
The company also projects the nascent global market opportunity for AI security to grow to $30.8 billion by 2028, contributing an incremental $9.9 billion to its estimated total addressable market by 2028.
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Expected drivers of future revenue growth for Netskope (NTSK) over the next 2-3 years include:
- Growth in Customer Base and Expansion within Existing Accounts: Netskope has demonstrated strong customer acquisition, with a 21% year-over-year increase in customers as of July 31, 2025. Additionally, the company's dollar-based net retention rate (NRR) increased to 118% as of July 31, 2025, indicating that existing customers are increasing their spend with Netskope.
- Expansion into a Large and Growing Total Addressable Market, particularly AI Security: Netskope's unified solution addresses a total addressable market projected to reach $138.9 billion by 2028, growing at a 16.8% compound annual growth rate. A significant portion of this growth is expected from the nascent AI security market, which Netskope projects to grow to $30.8 billion by 2028, contributing an incremental $9.9 billion to its estimated total addressable market.
- Continuous Product Innovation and Platform Leadership: The company has invested in research and development to drive rapid innovation, leveraging its Netskope One platform to serve customer needs and strengthen its technology leadership. This focus on advanced security and networking capabilities, especially concerning cloud and AI interactions, is expected to attract new customers and deepen engagement with existing ones.
- Strategic Investment in Sales and Channel Partnerships: Netskope has expanded its salesforce and channel partners to pursue attractive growth opportunities both domestically and internationally. This investment aims to increase market penetration and customer reach, contributing to revenue growth.
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Share Issuance
- Netskope completed its Initial Public Offering (IPO) on September 18, 2025, listing on the Nasdaq Global Select Market under the ticker symbol "NTSK".
- The company priced its IPO at $19.00 per share, selling 47,800,000 shares of Class A common stock.
- Including the full exercise of the underwriters' over-allotment option for an additional 7,170,000 shares, Netskope generated approximately $992.2 million in net proceeds from its IPO.
Inbound Investments
- In January 2023, Netskope raised $401 million through a convertible note.
- In 2021, the company raised $300 million in a funding round, valuing Netskope at $7.5 billion.
Outbound Investments
- Netskope acquired Kadiska in September 2023.
- In August 2022, Netskope acquired Infiot.
- Netskope acquired WootCloud in June 2022.
Capital Expenditures
- Netskope invests in its NewEdge global private cloud network, which includes more than 120 full-compute edge data centers in over 75 regions to deliver advanced security services.
- The company achieved its first full year of positive free cash flow in fiscal year 2026, generating $12.4 million, indicating significant prior investments.
- Netskope plans to achieve operating margin break-even by fiscal year 2028, leveraging fixed infrastructure investments and R&D cost advantages.
Peer Outperformance in Systems Software
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 18.4% | 110.0% | 198.4% | FLEX 551% · TTMI 451% · JBL 333% |
| Technology Distributors | 9 | 43.9% | 68.0% | 73.2% | AVT 146% · SNX 117% · CNXN 94% |
| Semiconductor Materials & Equipment | 28 | 37.3% | 61.0% | 45.7% | AXTI 464% · LRCX 317% · KLAC 313% |
| Electronic Components | 26 | -0.6% | 66.1% | 34.6% | CLS 2294% · BELFA 1195% · APH 329% |
| Communications Equipment | 36 | 2.5% | 73.5% | 32.6% | AAOI 695% · LITE 689% · ANET 434% |
| Semiconductors | 55 | 0.0% | 44.4% | 7.7% | MU 1107% · NVDA 669% · AVGO 555% |
| Electronic Equipment & Instruments | 27 | -4.1% | 24.7% | 3.5% | PI 139% · OSIS 114% · MIR 70% |
| Internet Services & Infrastructure | 6 | 1.5% | 45.7% | -10.1% | GDDY 73% · VRSN 39% · DOCN -3% |
| Technology Hardware, Storage & Peripherals | 21 | -3.4% | 85.5% | -12.0% | WDC 727% · SMCI 721% · DELL 693% |
| IT Consulting & Other Services | 30 | -24.8% | -3.5% | -25.0% | APLD 269% · IBM 152% · ADEA 142% |
| Application Software | 125 | -15.8% | -9.8% | -54.8% | PLTR 588% · FROG 159% · AGYS 148% |
| Systems Software ← | 70 | -12.3% | 22.2% | -56.2% | CRWD 261% · ZETA 243% · CVLT 145% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| NTSK Stock Falls -14% With A 7-day Losing Spree On Insider Selling | 01/03/2026 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 22.54 |
| Mkt Cap | 7.9 |
| Rev LTM | 1,252 |
| Op Inc LTM | 126 |
| FCF LTM | 256 |
| FCF 3Y Avg | 281 |
| CFO LTM | 263 |
| CFO 3Y Avg | 291 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.9% |
| Rev Chg 3Y Avg | 15.4% |
| Rev Chg Q | 13.4% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Inc Chg LTM | 31.9% |
| Op Inc Chg 3Y Avg | 23.7% |
| Op Mgn LTM | 8.9% |
| Op Mgn 3Y Avg | 3.2% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | 21.0% |
| CFO/Rev 3Y Avg | 22.3% |
| FCF/Rev LTM | 20.4% |
| FCF/Rev 3Y Avg | 21.6% |
Price Behavior
| Market Price | $22.00 | |
| Market Cap ($ Bil) | 8.9 | |
| First Trading Date | 09/18/2025 | |
| Distance from 52W High | -17.0% | |
| 50 Days | 200 Days | |
| DMA Price | $18.50 | $13.21 |
| DMA Trend | up | up |
| Distance from DMA | 18.9% | 66.5% |
| 3M | 1YR | |
| Volatility | 74.5% | 76.5% |
| Downside Capture | 68.38 | 188.80 |
| Upside Capture | 399.00 | 161.87 |
| Correlation (S&P 500) | 38.0% | 31.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.00 | 2.16 | 2.59 | 1.50 | 1.86 | 0.03 |
| Up Beta | 3.00 | 0.70 | 2.56 | 1.35 | 1.11 | 0.33 |
| Down Beta | 4.73 | 4.08 | 3.55 | 1.32 | 2.44 | -0.50 |
| Up Capture | 862% | 420% | 511% | 350% | 277% | 34% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 15 | 27 | 38 | 74 | 134 | 147 |
| Down Capture | 131% | -42% | 21% | 53% | 150% | 93% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 7 | 15 | 25 | 51 | 114 | 131 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NTSK | |
|---|---|---|---|---|
| NTSK | -4.0% | 76.5% | 0.28 | - |
| Sector ETF (XLK) | 16.5% | 27.2% | 0.53 | 35.0% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 31.5% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | 5.0% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -0.4% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | -2.5% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 26.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NTSK | |
|---|---|---|---|---|
| NTSK | -0.4% | 75.7% | 0.30 | - |
| Sector ETF (XLK) | 17.9% | 26.1% | 0.61 | 35.4% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 32.4% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 4.8% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | -0.3% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | -1.8% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 25.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NTSK | |
|---|---|---|---|---|
| NTSK | -0.2% | 75.7% | 0.30 | - |
| Sector ETF (XLK) | 23.3% | 25.2% | 0.84 | 35.4% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 32.4% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 4.8% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | -0.3% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | -1.8% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 25.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/6/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/2/2026 | 4.3% | 9.8% | 29.1% |
| 6/3/2026 | -19.1% | -31.7% | -1.5% |
| 3/11/2026 | -21.3% | -21.9% | -28.5% |
| 12/11/2025 | -11.8% | -19.6% | -30.2% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 3 | 3 | 3 |
| Median Positive | 4.3% | 9.8% | 29.1% |
| Median Negative | -19.1% | -21.9% | -28.5% |
| Max Positive | 4.3% | 9.8% | 29.1% |
| Max Negative | -21.3% | -31.7% | -30.2% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 9/2/2026 | 4.3% | 9.8% | 29.1% |
| 6/3/2026 | -19.1% | -31.7% | -1.5% |
| 3/11/2026 | -21.3% | -21.9% | -28.5% |
| 12/11/2025 | -11.8% | -19.6% | -30.2% |
| SUMMARY STATS | |||
| # Positive | 1 | 1 | 1 |
| # Negative | 3 | 3 | 3 |
| Median Positive | 4.3% | 9.8% | 29.1% |
| Median Negative | -19.1% | -21.9% | -28.5% |
| Max Positive | 4.3% | 9.8% | 29.1% |
| Max Negative | -21.3% | -31.7% | -30.2% |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2027 Earnings Reported 9/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2027 Non-GAAP Net Loss Per Share | Reported | -0.04 | -0.04 | -0.03 | Higher New | Guidance: -0.07 for Q2 2027 | ||
| Q3 2027 Revenue | Reported | 227.00 Mil | 228.00 Mil | 229.00 Mil | 6.5% | Higher New | Guidance: 214.00 Mil for Q2 2027 | |
| Q3 2027 Non-GAAP Operating Margin | Reported | -8.0% | 6.5% | Higher New | Guidance: -14.5% for Q2 2027 | |||
| 2027 Non-GAAP Net Loss Per Share | Reported | -0.15 | Raised | Guidance: -0.18 for 2027 | ||||
| 2027 Total Revenue | Reported | 888.00 Mil | 890.00 Mil | 892.00 Mil | 1.0% | Raised | Guidance: 881.00 Mil for 2027 | |
| 2027 Gross Profit | Calculated | 683.76 Mil | 685.30 Mil | 686.84 Mil | Rev x Gross Margin | |||
| 2027 Non-GAAP Gross Margin | Reported | 77.0% | 0.0% | Affirmed | Guidance: 77.0% for 2027 | |||
| 2027 Non-GAAP Operating Margin | Reported | -9.0% | 0.8% | Raised | Guidance: -9.75% for 2027 | |||
| 2027 Free Cash Flow Margin | Reported | 2.0% | -1.0% | Lowered | Guidance: 3.0% for 2027 | |||
Prior: Q1 2027 Earnings Reported 6/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2027 Non-GAAP Net Loss Per Share | Reported | -0.07 | -0.07 | -0.06 | Same New | Guidance: -0.07 for Q1 2027 | ||
| Q2 2027 Revenue | Reported | 213.00 Mil | 214.00 Mil | 215.00 Mil | 8.1% | Higher New | Guidance: 198.00 Mil for Q1 2027 | |
| Q2 2027 Revenue Growth | Reported | 25.0% | 25.5% | 26.0% | ||||
| Q2 2027 Non-GAAP Operating Margin | Reported | -15.0% | -14.5% | -14.0% | 1.5% | Higher New | Guidance: -16.0% for Q1 2027 | |
| 2027 Non-GAAP Net Loss Per Share | Reported | -0.18 | Raised | Guidance: -0.19 for 2027 | ||||
| 2027 Total Revenue | Reported | 879.00 Mil | 881.00 Mil | 883.00 Mil | 0.9% | Raised | Guidance: 873.00 Mil for 2027 | |
| 2027 Revenue Growth | Reported | 24.0% | 24.5% | 25.0% | ||||
| 2027 Gross Profit | Calculated | 676.83 Mil | 678.37 Mil | 679.91 Mil | Rev x Gross Margin | |||
| 2027 Non-GAAP Gross Margin | Reported | 77.0% | 0.0% | Affirmed | Guidance: 77.0% for 2027 | |||
| 2027 Non-GAAP Operating Margin | Reported | -10.0% | -9.75% | -9.5% | 0.2% | Raised | Guidance: -10.0% for 2027 | |
| 2027 Free Cash Flow Margin | Reported | 2.0% | 3.0% | 4.0% | 0.0% | Affirmed | Guidance: 3.0% for 2027 | |
Q4 2026 Earnings Reported 3/11/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Non-GAAP Net Loss Per Share | Reported | -0.07 | -0.07 | -0.06 | Lower New | Actual: -0.06 for Q4 2026 | ||
| Q1 2027 Revenue | Reported | 197.00 Mil | 198.00 Mil | 199.00 Mil | 4.8% | Higher New | Actual: 189.00 Mil for Q4 2026 | |
| Q1 2027 Non-GAAP Operating Margin | Reported | -16.0% | -2.5% | Lower New | Actual: -13.5% for Q4 2026 | |||
| 2027 Non-GAAP Net Loss Per Share | Reported | -0.19 | Higher New | Actual: -0.52 for 2026 | ||||
| 2027 Revenue | Reported | 870.00 Mil | 873.00 Mil | 876.00 Mil | 24.4% | Higher New | Actual: 702.00 Mil for 2026 | |
| 2027 Gross Profit | Calculated | 669.90 Mil | 672.21 Mil | 674.52 Mil | Rev x Gross Margin | |||
| 2027 Non-GAAP Gross Margin | Reported | 77.0% | 2.0% | Higher New | Actual: 75.0% for 2026 | |||
| 2027 Non-GAAP Operating Margin | Reported | -10.0% | 6.8% | Higher New | Actual: -16.75% for 2026 | |||
| 2027 Free Cash Flow Margin | Reported | 2.0% | 3.0% | 4.0% | ||||
Insider Activity
Updated 10/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lightspeed, Venture Partners Select, LP | Lightspeed Management Company, L.L.C. | Sell | 9142026 | 14.90 | 10,621 | Form | |||
| 2 | Lightspeed, Venture Partners Ix, LP | Lightspeed Management Company, L.L.C. | Sell | 9142026 | 14.90 | 10,621 | Form | |||
| 3 | Griffith, William JG | ICONIQ Strategic Partners VIII Holdings, L.P. | Buy | 7142026 | 12.42 | 64,771 | 804,546 | 11,386,573 | Form | |
| 4 | Iconiq, Strategic Partners Viii Holdings, LP | Direct | Buy | 7142026 | 12.42 | 64,771 | 804,546 | 11,386,573 | Form | |
| 5 | Griffith, William JG | ICONIQ Strategic Partners VIII Holdings, L.P. | Buy | 7142026 | 12.26 | 241,628 | 2,961,151 | 10,440,267 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lightspeed, Venture Partners Select, LP | Lightspeed Management Company, L.L.C. | Sell | 9142026 | 14.90 | 10,621 | Form | |||
| 2 | Lightspeed, Venture Partners Ix, LP | Lightspeed Management Company, L.L.C. | Sell | 9142026 | 14.90 | 10,621 | Form | |||
| 3 | Griffith, William JG | ICONIQ Strategic Partners VIII Holdings, L.P. | Buy | 7142026 | 12.42 | 64,771 | 804,546 | 11,386,573 | Form | |
| 4 | Iconiq, Strategic Partners Viii Holdings, LP | Direct | Buy | 7142026 | 12.42 | 64,771 | 804,546 | 11,386,573 | Form | |
| 5 | Griffith, William JG | ICONIQ Strategic Partners VIII Holdings, L.P. | Buy | 7142026 | 12.26 | 241,628 | 2,961,151 | 10,440,267 | Form | |
| 6 | Iconiq, Strategic Partners Viii Holdings, LP | Direct | Buy | 7142026 | 12.26 | 241,628 | 2,961,151 | 10,440,267 | Form | |
| 7 | Iconiq, Strategic Partners Viii Holdings, LP | Direct | Buy | 7102026 | 11.82 | 610,291 | 7,216,049 | 7,216,049 | Form | |
| 8 | Griffith, William JG | ICONIQ Strategic Partners VIII Holdings, L.P. | Buy | 7102026 | 11.82 | 610,291 | 7,216,081 | 7,216,081 | Form | |
| 9 | Lightspeed, Venture Partners Select, LP | Lightspeed Venture Partners XII, L.P. | Sell | 7092026 | 12.23 | 219,075 | Form | |||
| 10 | Lightspeed, Venture Partners Ix, LP | Lightspeed Venture Partners XII, L.P. | Sell | 7092026 | 12.23 | 219,075 | Form | |||
| 11 | Lightspeed, Venture Partners Select, LP | Lightspeed Management Company, L.L.C. | Sell | 7092026 | 11.70 | 10,621 | Form | |||
| 12 | Lightspeed, Venture Partners Ix, LP | Lightspeed Management Company, L.L.C. | Sell | 7092026 | 11.70 | 10,621 | Form | |||
| 13 | Janmohamed, Arif | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.00 | 336,173 | Form | |||
| 14 | Lightspeed, Venture Partners Select, LP | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.00 | 336,173 | Form | |||
| 15 | Lightspeed, Venture Partners Ix, LP | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.00 | 336,173 | Form | |||
| 16 | Janmohamed, Arif | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.19 | 1,313,827 | 12,074,070 | 3,089,430 | Form | |
| 17 | Lightspeed, Venture Partners Select, LP | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.19 | 1,313,827 | 12,074,070 | 3,089,430 | Form | |
| 18 | Lightspeed, Venture Partners Ix, LP | Lightspeed Opportunity Fund, L.P. | Sell | 6162026 | 9.19 | 1,313,827 | 12,074,070 | 3,089,430 | Form | |
| 19 | Bousquet, Raphael | Chief Revenue Offucer | Direct | Sell | 1122026 | 16.66 | 3,823 | Form | ||
| 20 | Bousquet, Raphael | Chief Revenue Offucer | Direct | Sell | 1122026 | 16.38 | 3,192 | Form | ||
| 21 | Bousquet, Raphael | Chief Revenue Offucer | Direct | Sell | 1122026 | 16.97 | 3,224 | Form | ||
| 22 | Del, Matto Andrew H | Chief Financial Officer | Direct | Sell | 1052026 | 17.34 | 38,616 | 669,636 | 719,526 | Form |
| 23 | Beri, Sanjay | CEO and Chairman | Direct | Sell | 1052026 | 17.33 | 175,707 | Form | ||
| 24 | Del, Matto Andrew H | Chief Financial Officer | Direct | Sell | 1052026 | 16.92 | 77,207 | 1,306,165 | 701,966 | Form |
| 25 | Beri, Sanjay | CEO and Chairman | Direct | Sell | 1052026 | 16.91 | 346,061 | Form | ||
| 26 | Del, Matto Andrew H | Chief Financial Officer | Direct | Sell | 1052026 | 17.67 | 33,387 | 590,022 | 733,273 | Form |
| 27 | Beri, Sanjay | CEO and Chairman | Direct | Sell | 1052026 | 17.67 | 108,553 | Form |
Investor Activity (13F)
Updated Nov 3, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Netskope — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Systems Software Resources |
| CNET |
| ZDNet |
| Gartner |
| Software Development Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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