Netskope (NASDAQ:NTSK) Issues Earnings Results, Beats Estimates By $0.15 EPS

Netskope (NASDAQ:NTSK) released its quarterly earnings data on Thursday. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.15, Zacks reports.

Netskope Stock Performance

Shares of NASDAQ:NTSK traded up $1.00 during trading on Thursday, hitting $23.50. The stock had a trading volume of 4,388,232 shares, compared to its average volume of 2,353,656. The company has a fifty day moving average of $21.26. Netskope has a 12 month low of $17.32 and a 12 month high of $27.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NTSK shares. BTIG Research began coverage on shares of Netskope in a report on Monday, October 13th. They set a “buy” rating and a $27.00 price target for the company. Zacks Research raised shares of Netskope to a “hold” rating in a research note on Monday, October 20th. Baird R W raised Netskope to a “strong-buy” rating in a research note on Monday, October 27th. Citigroup assumed coverage on Netskope in a research report on Monday, October 13th. They set an “outperform” rating for the company. Finally, Citizens Jmp initiated coverage on Netskope in a research report on Monday, October 13th. They issued a “mkt outperform” rating and a $27.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Netskope currently has an average rating of “Buy” and an average target price of $26.94.

Insiders Place Their Bets

In other news, Director William J.G. Griffith acquired 2,000,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $38,000,000.00. Following the completion of the acquisition, the director owned 11,238,175 shares in the company, valued at $213,525,325. This trade represents a 21.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Netskope

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in Netskope during the 3rd quarter valued at about $41,000. Virtu Financial LLC bought a new position in shares of Netskope during the third quarter valued at approximately $218,000. Sandia Investment Management LP purchased a new position in shares of Netskope during the third quarter valued at approximately $227,000. Envestnet Asset Management Inc. bought a new stake in shares of Netskope in the 3rd quarter worth approximately $249,000. Finally, XTX Topco Ltd purchased a new stake in shares of Netskope in the 3rd quarter worth approximately $591,000.

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.