Netskope (NASDAQ:NTSK) Stock Price Up 8.6% – Time to Buy?

Netskope Inc. (NASDAQ:NTSK)’s stock price rose 8.6% during trading on Thursday . The stock traded as high as $11.51 and last traded at $11.50. Approximately 1,958,780 shares were traded during trading, a decline of 29% from the average daily volume of 2,753,251 shares. The stock had previously closed at $10.59.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 target price on shares of Netskope in a research note on Friday, December 12th. BTIG Research dropped their price objective on Netskope from $27.00 to $22.00 and set a “buy” rating for the company in a report on Monday, March 2nd. TD Cowen cut their price objective on Netskope from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. FBN Securities started coverage on Netskope in a research note on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price on the stock. Finally, Wells Fargo & Company began coverage on Netskope in a research note on Tuesday. They issued an “overweight” rating and a $13.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Netskope presently has an average rating of “Moderate Buy” and an average target price of $23.47.

Netskope Trading Down 2.5%

The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The firm’s 50 day moving average price is $13.85. The company has a market capitalization of $4.44 billion and a PE ratio of -112.90.

Netskope (NASDAQ:NTSK) last released its quarterly earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The company had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. Netskope’s quarterly revenue was up 33.0% compared to the same quarter last year.

Insider Transactions at Netskope

In related news, CRO Raphael Bousquet sold 3,823 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Beri sold 346,061 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total value of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Trading of Netskope

A number of hedge funds have recently modified their holdings of NTSK. Farther Finance Advisors LLC bought a new position in shares of Netskope in the 4th quarter worth about $25,000. Quarry LP purchased a new position in Netskope during the 3rd quarter valued at about $41,000. Triumph Capital Management boosted its stake in Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in 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 purchasing an additional 2,617 shares during the period. Finally, Leonteq Securities AG purchased a new stake in Netskope in the fourth quarter worth about $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.