Netskope (NASDAQ:NTSK) Price Target Cut to $17.00 by Analysts at KeyCorp

Netskope (NASDAQ:NTSK) had its target price reduced by equities researchers at KeyCorp from $24.00 to $17.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 42.98% from the company’s current price.

A number of other brokerages also recently commented on NTSK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $26.00 target price on shares of Netskope in a report on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Zacks Research raised shares of Netskope to a “hold” rating in a research note on Monday, October 20th. Finally, Mizuho reduced their target price on Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.94.

Netskope Trading Up 3.5%

NTSK stock opened at $11.89 on Tuesday. The firm has a market capitalization of $4.68 billion and a P/E ratio of -118.90. Netskope has a twelve month low of $11.28 and a twelve month high of $27.99. The company has a 50 day moving average price of $16.39. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32.

Netskope (NASDAQ:NTSK) last issued 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 firm had revenue of $184.17 million for the quarter, compared to analyst estimates of $175.81 million. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insider Activity at Netskope

In related news, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total value of $1,306,342.44. Following the transaction, the chief financial officer owned 41,493 shares in the company, valued at $702,061.56. This trade represents a 65.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Raphael Bousquet sold 3,823 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.66, for a total value of $63,691.18. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Capital LLC bought a new position in Netskope in the 3rd quarter valued at $2,056,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Netskope during the 3rd quarter valued at $72,463,000. Federated Hermes Inc. acquired a new position in Netskope in the third quarter valued at about $18,184,000. New York State Common Retirement Fund acquired a new position in Netskope during the third quarter valued at approximately $943,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Netskope in the 3rd quarter valued at $27,239,000.

About Netskope

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.