Mizuho Has Lowered Expectations for Netskope (NASDAQ:NTSK) Stock Price

Netskope (NASDAQ:NTSK) had its target price lowered by research analysts at Mizuho from $26.00 to $20.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 68.21% from the company’s previous close.

Other analysts have also recently issued reports about the company. Zacks Research raised Netskope to a “hold” rating in a research report on Monday, October 20th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. Robert W. Baird assumed coverage on Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $25.94.

Netskope Trading Up 3.5%

NTSK opened at $11.89 on Tuesday. Netskope has a 12-month low of $11.28 and a 12-month high of $27.99. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50-day moving average price of $16.39. The stock has a market cap of $4.68 billion and a PE ratio of -118.90.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. The firm’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 77,207 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares in the company, valued at $702,061.56. The trade was a 65.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Raphael Bousquet sold 3,823 shares of the company’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 SEC filing for this sale provides additional information. Insiders sold a total of 1,049,721 shares of company stock valued at $18,020,279 in the last three months.

Institutional Trading of Netskope

A number of hedge funds and other institutional investors have recently made changes to their positions in NTSK. New York Life Insurance Co. purchased a new position in shares of Netskope during the 3rd quarter worth approximately $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 purchased a new position in shares of Netskope during the third quarter worth $72,463,000. Principal Financial Group Inc. acquired a new stake in shares of Netskope in the third quarter valued at $27,239,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Netskope in the 3rd quarter valued at $61,833,000.

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.