Netskope (NASDAQ:NTSK) Trading 7.2% Higher – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK)’s share price was up 7.2% during mid-day trading on Tuesday . The stock traded as high as $13.56 and last traded at $13.7160. 1,091,393 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 4,607,002 shares. The stock had previously closed at $12.80.

Analyst Ratings Changes

Several brokerages have weighed in on NTSK. Morgan Stanley dropped their price objective on Netskope from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. BTIG Research dropped their price target on shares of Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, June 4th. BMO Capital Markets cut their price objective on shares of Netskope from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. Piper Sandler reduced their price objective on shares of Netskope from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th. Finally, Oppenheimer lowered their target price on shares of Netskope from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.11.

Netskope Stock Up 10.8%

The company has a market cap of $5.73 billion and a price-to-earnings ratio of -70.82. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06. The firm’s fifty day moving average price is $10.81 and its 200-day moving average price is $11.69.

Netskope (NASDAQ:NTSK) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $201.59 million for the quarter. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. Sell-side analysts predict that Netskope Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $12.23, for a total transaction of $2,679,287.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners Viii acquired 610,291 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was 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 in the company, valued at $7,213,639.62. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 3,529,696 shares of company stock valued at $33,002,807 in the last quarter. 25.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netskope

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in shares of Netskope in the third quarter valued at about $249,000. Legal & General Group Plc acquired a new stake in Netskope in the 3rd quarter valued at approximately $1,677,000. Franklin Resources Inc. acquired a new stake in Netskope in the 3rd quarter valued at approximately $17,460,000. Invesco Ltd. bought a new stake in Netskope in the 3rd quarter valued at approximately $10,327,000. Finally, Squarepoint Ops LLC acquired a new position in Netskope during the 3rd quarter worth approximately $14,774,000.

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.