Netskope (NASDAQ:NTSK) Shares Down 6.3% After Analyst Downgrade

Shares of Netskope Inc. (NASDAQ:NTSK) traded down 6.3% during trading on Wednesday after Mizuho downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $14.55 and last traded at $14.4040. Approximately 229,726 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 4,624,096 shares. The stock had previously closed at $15.37.

NTSK has been the topic of several other reports. Piper Sandler dropped their target price on Netskope from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on shares of Netskope in a research note on Monday. Oppenheimer boosted their target price on shares of Netskope from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada raised their price target on shares of Netskope from $13.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Morgan Stanley decreased their price objective on shares of Netskope from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Netskope has a consensus rating of “Moderate Buy” and an average target price of $17.79.

Insider Activity at Netskope

In other news, major shareholder Lightspeed Venture Partners Se sold 219,075 shares of Netskope stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.23, for a total value of $2,679,287.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Viii bought 64,771 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were bought at an average cost of $12.42 per share, with a total value of $804,455.82. Following the purchase, the insider directly owned 916,690 shares of the company’s stock, valued at approximately $11,385,289.80. This represents a 7.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 1,833,380 shares of company stock worth $21,960,909 and sold 3,529,696 shares worth $33,002,807. 25.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netskope

Several hedge funds and other institutional investors have recently made changes to their positions in NTSK. Farther Finance Advisors LLC acquired a new stake in shares of Netskope in the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Netskope during the third quarter worth $41,000. Triumph Capital Management grew its position in 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 acquiring an additional 1,900 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Netskope by 261.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after purchasing an additional 2,617 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of Netskope in the fourth quarter worth $64,000.

Netskope Price Performance

The stock has a market capitalization of $5.81 billion and a price-to-earnings ratio of -71.90. The company has a debt-to-equity ratio of 4.06, a quick ratio of 2.16 and a current ratio of 2.17. The company has a 50 day moving average of $12.32 and a 200 day moving average of $11.15.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $201.59 million during the quarter. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. As a group, equities research analysts anticipate that Netskope Inc. will post -0.88 EPS for the current year.

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.