Oppenheimer Lowers Netskope (NASDAQ:NTSK) Price Target to $23.00

Netskope (NASDAQ:NTSK) had its target price cut by Oppenheimer from $28.00 to $23.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective points to a potential upside of 124.39% from the stock’s current price.

Several other research analysts have also issued reports on NTSK. BTIG Research cut their target price on shares of Netskope from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Monday. FBN Securities started coverage on Netskope in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 price objective on the stock. Mizuho reduced their price target on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Piper Sandler restated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Finally, KeyCorp decreased their target price on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Netskope presently has an average rating of “Moderate Buy” and an average price target of $23.47.

Netskope Stock Down 2.0%

Netskope stock opened at $10.25 on Monday. The stock has a market capitalization of $4.03 billion and a PE ratio of -102.50. The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The business’s 50-day simple moving average is $14.28. Netskope has a 52 week low of $9.13 and a 52 week high of $27.99.

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

Insider Buying and Selling at Netskope

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

Institutional Trading of Netskope

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in Netskope in the 4th quarter worth $25,000. Quarry LP purchased a new stake in Netskope in the third quarter worth about $41,000. Triumph Capital Management grew its holdings in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares during the period. Wells Fargo & Company MN raised its position in shares of Netskope by 261.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after acquiring an additional 2,617 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of Netskope in the 4th quarter valued at approximately $64,000.

About Netskope

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.