Netskope (NASDAQ:NTSK) Reaches New 12-Month Low on Analyst Downgrade

Netskope Inc. (NASDAQ:NTSK) reached a new 52-week low during mid-day trading on Tuesday after KeyCorp lowered their price target on the stock from $24.00 to $17.00. KeyCorp currently has an overweight rating on the stock. Netskope traded as low as $11.06 and last traded at $11.12, with a volume of 224371 shares. The stock had previously closed at $11.89.

A number of other research firms have also issued reports on NTSK. Piper Sandler restated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Mizuho lowered their price objective on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft reaffirmed 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 reissued a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Netskope presently has an average rating of “Moderate Buy” and an average price target of $25.88.

Insider Buying and Selling

In other Netskope news, CEO Sanjay Beri sold 31,594 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total value of $555,422.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Raphael Bousquet sold 3,823 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Trading of Netskope

Several large investors have recently added to or reduced their stakes in the business. New York Life Insurance Co. bought a new position in shares of Netskope during the 3rd quarter valued at $31,236,000. Federated Hermes Inc. acquired a new position in Netskope during the third quarter worth $18,184,000. Massachusetts Financial Services Co. MA bought a new position in Netskope during the third quarter valued at about $72,463,000. Principal Financial Group Inc. acquired a new stake in shares of Netskope in the third quarter worth about $27,239,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Netskope during the 3rd quarter worth about $61,833,000.

Netskope Trading Down 4.8%

The company’s fifty day moving average price is $16.16. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. The company has a market capitalization of $4.45 billion and a price-to-earnings ratio of -113.20.

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

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.