Netskope Inc. (NASDAQ:NTSK) Receives $26.71 Consensus Price Target from Analysts

Netskope Inc. (NASDAQ:NTSK) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $26.7059.

A number of research firms recently issued reports on NTSK. JPMorgan Chase & Co. began coverage on shares of Netskope in a research note on Monday, October 13th. They issued an “overweight” rating and a $26.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. Independent Research set a $27.00 price target on shares of Netskope in a research report on Monday, October 13th. Finally, KeyCorp decreased their price target on shares of Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th.

Netskope Stock Down 2.0%

NASDAQ:NTSK opened at $15.29 on Wednesday. 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 52 week low of $14.23 and a 52 week high of $27.99. The company’s 50-day simple moving average is $18.13. The firm has a market cap of $6.01 billion and a PE ratio of -152.90.

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

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Beri sold 346,061 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total value of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 over the last quarter.

Institutional Investors Weigh In On Netskope

A number of large investors have recently modified their holdings of NTSK. Chicago Capital LLC acquired a new stake in shares of Netskope in the third quarter valued at about $2,056,000. Massachusetts Financial Services Co. MA purchased a new stake in Netskope during the 3rd quarter valued at about $72,463,000. Federated Hermes Inc. acquired a new stake in Netskope in the 3rd quarter valued at about $18,184,000. New York State Common Retirement Fund acquired a new stake in Netskope in the 3rd quarter valued at about $943,000. Finally, Principal Financial Group Inc. purchased a new position in Netskope in the 3rd quarter worth approximately $27,239,000.

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.