Netskope (NASDAQ:NTSK) Price Target Raised to $23.00

Netskope (NASDAQ:NTSK) had its price target increased by equities research analysts at Royal Bank Of Canada from $20.00 to $23.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price indicates a potential upside of 7.98% from the stock’s current price.

Several other equities research analysts also recently commented on NTSK. Zacks Research raised shares of Netskope from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. JPMorgan Chase & Co. boosted their price target on shares of Netskope from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Netskope in a research note on Monday, August 17th. Cantor Fitzgerald started coverage on shares of Netskope in a report on Wednesday, November 4th. They issued an “overweight” rating and a $28.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of Netskope from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Netskope currently has an average rating of “Moderate Buy” and a consensus price target of $19.82.

Netskope Stock Performance

NASDAQ:NTSK opened at $21.30 on Monday. The company has a market capitalization of $8.70 billion, a P/E ratio of -8.35 and a beta of 2.43. The business has a fifty day simple moving average of $19.12 and a two-hundred day simple moving average of $13.40. The company has a debt-to-equity ratio of 4.45, a current ratio of 2.01 and a quick ratio of 2.00. Netskope has a 1 year low of $7.66 and a 1 year high of $26.71.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.23. The firm had revenue of $220.54 million for the quarter. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. On average, analysts expect that Netskope will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other Netskope news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $14.90, for a total value of $158,252.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Netskope

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP purchased a new stake in Netskope in the second quarter worth $25,107,000. Weiss Asset Management LP bought a new position in Netskope in the 1st quarter worth $8,957,000. New York Life Insurance Co. purchased a new stake in shares of Netskope in the 2nd quarter worth about $11,325,580. Penn Capital Management Company LLC bought a new stake in shares of Netskope during the 3rd quarter valued at about $16,158,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Netskope by 306.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 817,612 shares of the company’s stock valued at $14,259,000 after purchasing an additional 616,225 shares in the last quarter.

About Netskope

Netskope, Inc provides cybersecurity and networking services that help organizations protect users, data and applications across cloud, web and private-network environments. Its offerings are designed to support distributed workforces and the use of cloud services while applying consistent security policies.

The company’s Netskope One platform brings together security and networking capabilities, including secure web access, cloud application security, data loss prevention, threat protection and zero-trust network access.