Netskope (NASDAQ:NTSK) Sets New 1-Year Low – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK) shares reached a new 52-week low on Monday . The company traded as low as $9.79 and last traded at $9.98, with a volume of 563913 shares traded. The stock had previously closed at $10.53.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NTSK shares. FBN Securities began coverage on Netskope in a research note on Wednesday. They set an “outperform” rating and a $15.00 price target for the company. TD Cowen cut their target price on Netskope from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Mizuho dropped their price objective on Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.94.

Netskope Stock Up 10.5%

The firm’s 50-day moving average is $15.10. The firm has a market capitalization of $4.32 billion and a P/E ratio of -109.80. 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 (NASDAQ:NTSK) last posted its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.15. The business had revenue of $184.17 million during the quarter, compared to analysts’ expectations of $175.81 million. Netskope’s quarterly revenue was up 33.0% compared to the same quarter last year.

Insider Activity at Netskope

In related news, CRO Raphael Bousquet sold 3,823 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $16.92, for a total transaction of $1,306,342.44. Following the completion of the sale, the chief financial officer directly owned 41,493 shares in the company, valued at approximately $702,061.56. This represents a 65.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Hedge Funds Weigh In On Netskope

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

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.