Netskope (NASDAQ:NTSK) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Netskope (NASDAQ:NTSK) to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also commented on NTSK. KeyCorp decreased their target price on Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. TD Cowen decreased their price objective on shares of Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. Finally, FBN Securities initiated coverage on shares of Netskope in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.47.

Netskope Stock Performance

NTSK opened at $10.59 on Monday. The company has a market cap of $4.16 billion and a P/E ratio of -105.90. The business has a 50-day moving average of $14.12. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. Netskope has a 1-year low of $9.13 and a 1-year high of $27.99.

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

Insiders Place Their Bets

In other news, CEO Sanjay Beri sold 31,594 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Raphael Bousquet sold 3,823 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total transaction of $63,691.18. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,049,721 shares of company stock valued at $18,020,279 over the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. New York Life Insurance Co. acquired a new position in shares of Netskope during the 3rd quarter valued at $31,236,000. Federated Hermes Inc. bought a new position in Netskope during the third quarter valued at about $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 position in Netskope during the third quarter worth about $27,239,000. Finally, TD Asset Management Inc bought a new stake in Netskope in the third quarter worth about $5,005,000.

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.