Netskope (NASDAQ:NTSK) Now Covered by FBN Securities

Analysts at FBN Securities initiated coverage on shares of Netskope (NASDAQ:NTSK) in a research note issued on Wednesday. The firm set an “outperform” rating and a $15.00 price target on the stock. FBN Securities’ price target points to a potential upside of 40.58% from the company’s previous close.

NTSK has been the subject of several other reports. TD Cowen lowered their target price on shares of Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Finally, Mizuho lowered their price objective on shares of Netskope from $26.00 to $20.00 and set an “outperform” 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 given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.94.

Netskope Trading Up 7.3%

Shares of NTSK stock traded up $0.73 during trading hours on Wednesday, hitting $10.67. The company’s stock had a trading volume of 825,918 shares, compared to its average volume of 2,612,063. Netskope has a twelve month low of $9.13 and a twelve month high of $27.99. 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 stock has a fifty day moving average of $15.10. The firm has a market capitalization of $4.20 billion and a PE ratio of -106.70.

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

Insider Buying and Selling at Netskope

In related news, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total value of $855,855.00. Following the completion of 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 through the SEC website. Also, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction on 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. Over the last 90 days, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Hedge Funds Weigh In On Netskope

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTSK. Chicago Capital LLC acquired a new stake in shares of Netskope in the third quarter valued at $2,056,000. Massachusetts Financial Services Co. MA acquired a new stake in Netskope in the 3rd quarter valued at about $72,463,000. Federated Hermes Inc. bought a new position in shares of Netskope during the 3rd quarter valued at about $18,184,000. New York State Common Retirement Fund acquired a new position in shares of Netskope in the 3rd quarter worth approximately $943,000. Finally, Principal Financial Group Inc. bought a new stake in shares of 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.