Netskope (NASDAQ:NTSK) Now Covered by Analysts at FBN Securities

Research analysts at FBN Securities started coverage on shares of Netskope (NASDAQ:NTSK) in a note issued to investors on Wednesday. The firm set an “outperform” rating and a $15.00 price target on the stock. FBN Securities’ target price points to a potential upside of 40.58% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 target price on shares of Netskope in a research report on Friday, December 12th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Mizuho reduced their target price on Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Finally, KeyCorp decreased their price objective on Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.94.

Netskope Trading Up 7.3%

Shares of Netskope stock traded up $0.73 on Wednesday, reaching $10.67. 825,918 shares of the company were exchanged, compared to its average volume of 2,612,063. Netskope has a fifty-two week low of $9.13 and a fifty-two week high of $27.99. The stock has a market cap of $4.20 billion and a price-to-earnings ratio of -106.70. The company has a debt-to-equity ratio of 5.17, a current ratio of 2.32 and a quick ratio of 2.32. The business has a fifty day simple moving average of $15.10.

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

Insider Buying and Selling

In related news, CRO Raphael Bousquet sold 3,823 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Beri sold 346,061 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total transaction of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Hedge Funds Weigh In On Netskope

Several institutional investors have recently bought and sold shares of 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 stake in shares of Netskope in the third quarter worth $41,000. Triumph Capital Management boosted its holdings in shares of Netskope by 380.0% during the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after buying an additional 1,900 shares during the period. Wells Fargo & Company MN grew its stake in Netskope by 261.7% in the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after buying an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Netskope in the 4th quarter worth $64,000.

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.