Netskope (NASDAQ:NTSK) Price Target Lowered to $17.00 at KeyCorp

Netskope (NASDAQ:NTSK) had its price target trimmed by KeyCorp from $24.00 to $17.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also commented on NTSK. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Mizuho lowered their price target on Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. One equities 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’s stock. Based on data from MarketBeat.com, Netskope presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Stock Performance

NTSK stock opened at $11.32 on Tuesday. The stock’s 50 day moving average is $16.16. Netskope has a 52 week low of $10.96 and a 52 week high of $27.99. The firm has a market capitalization of $4.45 billion and a PE ratio of -113.20. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32.

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

Insiders Place Their Bets

In related news, CEO Sanjay Beri sold 346,061 shares of Netskope stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $16.91, for a total transaction of $5,851,891.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matto Andrew H. Del sold 77,207 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares in the company, valued at $702,061.56. The trade was a 65.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,049,721 shares of company stock worth $18,020,279 over the last quarter.

Institutional Trading of Netskope

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new stake in shares of Netskope in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of Netskope during the third quarter valued at $41,000. Triumph Capital Management boosted its holdings in Netskope by 380.0% in the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after acquiring an additional 1,900 shares during the last quarter. Wells Fargo & Company MN increased its position in Netskope by 261.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after purchasing an additional 2,617 shares during the period. Finally, Leonteq Securities AG bought a new stake in Netskope during the 4th quarter worth about $64,000.

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.