Netskope (NASDAQ:NTSK) Stock Price Down 4.9% – Here’s Why

Netskope Inc. (NASDAQ:NTSK) shares dropped 4.9% during mid-day trading on Tuesday . The company traded as low as $13.43 and last traded at $13.35. 1,553,326 shares were traded during mid-day trading, a decline of 66% from the average session volume of 4,594,484 shares. The stock had previously closed at $14.04.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NTSK shares. BTIG Research cut their price target on Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Citizens Jmp dropped their target price on shares of Netskope from $23.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Friday, May 1st. KeyCorp upped their target price on shares of Netskope from $16.00 to $17.50 and gave the company an “overweight” rating in a research note on Friday, August 21st. Piper Sandler reduced their price target on shares of Netskope from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Netskope in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Netskope has an average rating of “Moderate Buy” and an average price target of $17.71.

Netskope Trading Up 10.9%

The business has a 50-day moving average price of $12.73 and a 200-day moving average price of $11.18. The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. The firm has a market capitalization of $6.24 billion and a P/E ratio of -76.57.

Netskope (NASDAQ:NTSK) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $201.59 million during the quarter. Netskope’s revenue was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. Analysts anticipate that Netskope Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling at Netskope

In other Netskope news, Director William J.G. Griffith acquired 610,291 shares of Netskope stock in a transaction dated Wednesday, July 8th. The stock was bought at an average cost of $11.82 per share, with a total value of $7,213,639.62. Following the acquisition, the director owned 610,291 shares of the company’s stock, valued at approximately $7,213,639.62. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lightspeed Venture Partners Se sold 1,313,827 shares of Netskope stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the sale, the insider owned 336,173 shares in the company, valued at approximately $3,089,429.87. This trade represents a 79.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders purchased 1,833,380 shares of company stock valued at $21,960,909 and sold 3,529,696 shares valued at $33,002,807. Company insiders own 25.52% of the company’s stock.

Hedge Funds Weigh In On Netskope

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new stake in Netskope in the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Netskope during the third quarter valued at $41,000. Triumph Capital Management lifted its holdings in shares of Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after acquiring an additional 1,900 shares during the period. Operose Advisors LLC acquired a new stake in shares of Netskope in the 2nd quarter valued at $56,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Netskope by 261.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after purchasing an additional 2,617 shares in the last quarter.

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.