Netskope (NASDAQ:NTSK) Price Target Cut to $20.00 by Analysts at Mizuho

Netskope (NASDAQ:NTSK) had its price target decreased by Mizuho from $26.00 to $20.00 in a report issued on Tuesday, MarketBeat.com reports. Mizuho currently has an outperform rating on the stock.

A number of other research firms also recently commented on NTSK. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Zacks Research raised Netskope to a “hold” rating in a report on Monday, October 20th. KeyCorp reduced their target price on Netskope from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 target price on shares of Netskope in a research report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Netskope presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Stock Performance

NTSK opened at $11.32 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope has a one year low of $10.96 and a one year high of $27.99. The stock has a market cap of $4.45 billion and a P/E ratio of -113.20. The firm has a 50-day simple moving average of $16.16.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $184.17 million during the quarter, compared to analyst estimates of $175.81 million. The firm’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Beri sold 346,061 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total value of $5,851,891.51. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NTSK. ICONIQ Capital LLC acquired a new stake in Netskope in the third quarter valued at about $1,506,261,000. Scge Management L.P. purchased a new position in shares of Netskope during the 3rd quarter worth approximately $312,104,000. Vanguard Group Inc. lifted its holdings in shares of Netskope by 51.5% in the 4th quarter. Vanguard Group Inc. now owns 5,332,708 shares of the company’s stock valued at $93,536,000 after buying an additional 1,812,857 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Netskope by 11.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company’s stock valued at $62,469,000 after buying an additional 373,529 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in Netskope during the fourth quarter worth $60,882,000.

Netskope Company Profile

We are redefining security and networking for the era of cloud and AI. The cloud and AI have completely revolutionized work. We are more dispersed, more productive, and more automated than ever before, and the rate of change is only accelerating. Not since the internet has there been such a transformative tectonic shift. But, with it has come collateral damage-traditional security and networking are now broken. We founded Netskope to address this revolution. We built Netskope One, our unified, cloud-native platform from the ground up to solve the challenge of securing and accelerating the digital interactions of enterprises in this new era.