Netskope (NASDAQ:NTSK) Upgraded at Stephens

Netskope (NASDAQ:NTSK) was upgraded by Stephens to a “strong-buy” rating in a report released on Monday, Zacks reports.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Netskope in a research note on Monday, August 17th. Morgan Stanley boosted their target price on Netskope from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. TD Cowen restated a “buy” rating and issued a $19.00 target price on shares of Netskope in a research report on Monday, August 17th. Piper Sandler increased their price target on Netskope from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Netskope in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.12.

Netskope Price Performance

Shares of NTSK opened at $17.29 on Monday. Netskope has a one year low of $7.66 and a one year high of $27.99. The stock’s fifty day moving average is $14.07 and its 200-day moving average is $11.57. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.00 and a current ratio of 2.01. The firm has a market capitalization of $7.06 billion and a price-to-earnings ratio of -6.78.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.23. The business had revenue of $220.54 million during the quarter. Netskope had a negative net margin of 91.84% and a negative return on equity of 83.84%. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. Equities analysts anticipate that Netskope will post -0.82 EPS for the current year.

Insiders Place Their Bets

In related news, Director William J.G. Griffith bought 610,291 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average cost of $11.82 per share, for a total transaction of $7,213,639.62. Following the acquisition, the director directly owned 610,291 shares of the company’s stock, valued at $7,213,639.62. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Iconiq Strategic Partners Viii bought 610,291 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were bought at an average cost of $11.82 per share, for a total transaction of $7,213,639.62. Following the completion of the transaction, the insider directly owned 610,291 shares of the company’s stock, valued at $7,213,639.62. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 1,833,380 shares of company stock worth $21,960,909 and have sold 240,317 shares worth $2,961,806. 25.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netskope

A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP acquired a new position in Netskope in the 2nd quarter worth approximately $25,107,000. Principal Financial Group Inc. raised its stake in Netskope by 31.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after purchasing an additional 608,355 shares during the period. New York Life Insurance Co. purchased a new stake in shares of Netskope in the second quarter valued at $11,325,580. Wellington Management Group LLP purchased a new stake in shares of Netskope in the second quarter valued at $2,027,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Netskope by 1,381.8% in the first quarter. Bank of New York Mellon Corp now owns 475,918 shares of the company’s stock worth $4,041,000 after buying an additional 443,800 shares during the period.

About Netskope

Netskope, Inc is a cybersecurity company that provides a cloud-native platform designed to help organizations secure data, users, devices, applications and networks. Its offerings address security needs arising from cloud computing, remote work and the use of software-as-a-service applications.

The company’s platform includes security service edge (SSE) and secure access service edge (SASE) capabilities, such as cloud access security broker (CASB) services, secure web gateways, zero-trust network access, data loss prevention, cloud firewall functionality and security analytics.