FBN Securities Begins Coverage on Netskope (NASDAQ:NTSK)

FBN Securities initiated coverage on shares of Netskope (NASDAQ:NTSK) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $15.00 price target on the stock. FBN Securities’ price objective would suggest a potential upside of 30.10% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Finally, KeyCorp reduced their price target on Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Netskope currently has an average rating of “Moderate Buy” and an average price target of $24.94.

Netskope Trading Up 5.0%

NTSK opened at $11.53 on Wednesday. The company has a market cap of $4.53 billion and a P/E ratio of -115.30. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. Netskope has a 12-month low of $9.13 and a 12-month high of $27.99. The stock’s fifty day moving average price is $14.80.

Netskope (NASDAQ:NTSK) last released its quarterly earnings data 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 firm had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The business’s quarterly revenue was up 33.0% compared to the same quarter last year.

Insider Activity

In related news, CFO Matto Andrew H. Del sold 49,875 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total transaction of $855,855.00. Following the transaction, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at $712,019.88. This represents a 54.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Hedge Funds Weigh In On Netskope

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC purchased a new stake in Netskope during the 4th quarter worth approximately $25,000. Quarry LP purchased a new position in shares of Netskope in the third quarter worth $41,000. Triumph Capital Management lifted its stake in shares of Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after buying an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Netskope in the 4th quarter valued at $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.