Why Netskope Stock Is Plunging Today
Shares of leading cloud cybersecurity upstart Netskope (NASDAQ: NTSK) are down 12% as of noon ET on Friday after the stock delivered its first-ever earnings report on Thursday.
The company surpassed Wall Street's expectations for the third quarter, growing sales by 33% and remaining performance obligations by 41%. However, with the stock priced for perfection at 14 times sales before today's drop, the market sent Netskope's shares downward after its guidance underwhelmed.
From a Foolish perspective, I don't think there was anything wrong with Netskope's earnings, and the company's future looks promising.
Source Fool.com
