BTIG Research Cuts Netskope (NASDAQ:NTSK) Price Target to $22.00

Netskope (NASDAQ:NTSK) had its price target dropped by stock analysts at BTIG Research from $27.00 to $22.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 103.70% from the stock’s previous close.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $26.00 price target on shares of Netskope in a research report on Friday, December 12th. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a research note on Wednesday, February 11th. KeyCorp decreased their price objective on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. FBN Securities started coverage on shares of Netskope in a report on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, TD Cowen decreased their price target on shares of Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, Netskope currently has an average rating of “Moderate Buy” and an average target price of $24.65.

Netskope Trading Down 6.3%

Shares of NASDAQ:NTSK opened at $10.80 on Monday. Netskope has a 1-year low of $9.13 and a 1-year high of $27.99. The stock’s 50-day moving average price is $14.63. 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 company has a market cap of $4.25 billion and a PE ratio of -108.00.

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

Insider Activity

In other Netskope news, CRO Raphael Bousquet sold 3,823 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matto Andrew H. Del sold 49,875 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.16, for a total transaction of $855,855.00. Following the transaction, the chief financial officer directly owned 41,493 shares of the company’s stock, valued at $712,019.88. This represents a 54.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,049,721 shares of company stock worth $18,020,279 over the last three months.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. increased its position in Netskope by 32.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,164 shares of the company’s stock worth $91,000 after buying an additional 1,270 shares during the period. Farther Finance Advisors LLC acquired a new position in Netskope during the 4th quarter worth approximately $25,000. Quarry LP bought a new stake in Netskope in the third quarter valued at approximately $41,000. Triumph Capital Management grew its stake in shares of Netskope by 380.0% in the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock valued at $42,000 after buying an additional 1,900 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Netskope by 60.5% in the 4th quarter. Assetmark Inc. now owns 5,879 shares of the company’s stock worth $103,000 after purchasing an additional 2,216 shares in the last quarter.

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.