Netskope (NASDAQ:NTSK) Upgraded to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Netskope (NASDAQ:NTSK) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research firms have also recently commented on NTSK. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $26.00 target price on shares of Netskope in a research report on Friday, December 12th. Mizuho decreased their target price on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Netskope currently has an average rating of “Moderate Buy” and an average price target of $23.47.

Netskope Trading Down 2.0%

Shares of NTSK stock opened at $10.25 on Monday. The stock has a market capitalization of $4.03 billion and a P/E ratio of -102.50. Netskope has a 1-year low of $9.13 and a 1-year high of $27.99. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The company’s fifty day simple moving average is $14.28.

Netskope (NASDAQ:NTSK) last announced 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 business had revenue of $184.17 million for the quarter, compared to analyst estimates of $175.81 million. The business’s revenue was up 33.0% on a year-over-year basis.

Insiders Place Their Bets

In other news, CEO Sanjay Beri sold 31,594 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Raphael Bousquet sold 3,823 shares of Netskope stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. The SEC filing for this sale provides additional information. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 over the last ninety days.

Institutional Trading of Netskope

Several large investors have recently made changes to their positions in NTSK. Farther Finance Advisors LLC bought a new position in shares of Netskope in the 4th quarter valued at approximately $25,000. Quarry LP acquired a new position in Netskope during the third quarter valued at approximately $41,000. Triumph Capital Management raised its position in shares of Netskope by 380.0% in the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after purchasing an additional 1,900 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Netskope by 261.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after buying an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of Netskope during the 4th quarter worth $64,000.

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.