Netskope (NASDAQ:NTSK) Shares Up 10.1% After Analyst Upgrade

Netskope Inc. (NASDAQ:NTSK) was up 10.1% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $14.00 to $16.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netskope traded as high as $15.37 and last traded at $15.3320. 1,113,840 shares traded hands during trading, a decline of 76% from the average session volume of 4,570,247 shares. The stock had previously closed at $13.92.

A number of other research analysts have also recently issued reports on NTSK. BTIG Research reduced their price objective on shares of Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Citizens Jmp cut their price target on Netskope from $23.00 to $17.00 and set a “market outperform” rating for the company in a research note on Friday, May 1st. Wells Fargo & Company boosted their price objective on Netskope from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft set a $17.00 target price on Netskope in a report on Monday, August 17th. Finally, Morgan Stanley cut their target price on Netskope from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Netskope has an average rating of “Moderate Buy” and a consensus price target of $17.71.

Insider Activity at Netskope

In related news, Director William J.G. Griffith acquired 610,291 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average price of $11.82 per share, for a total transaction of $7,213,639.62. Following the completion of the acquisition, the director owned 610,291 shares of the company’s stock, valued at approximately $7,213,639.62. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Viii acquired 610,291 shares of the stock in a transaction on Wednesday, July 8th. The stock was bought at an average cost of $11.82 per share, for a total transaction of $7,213,639.62. Following the transaction, the insider owned 610,291 shares of the company’s stock, valued at approximately $7,213,639.62. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 1,833,380 shares of company stock worth $21,960,909 and have sold 3,529,696 shares worth $33,002,807. 25.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netskope

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in shares of Netskope in the fourth quarter valued at $25,000. Quarry LP purchased a new stake in Netskope in the 3rd quarter worth about $41,000. Triumph Capital Management increased its holdings in Netskope by 380.0% in the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares during the last quarter. Wells Fargo & Company MN raised 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 acquiring an additional 2,617 shares during the period. Finally, Leonteq Securities AG bought a new stake in Netskope in the 4th quarter valued at about $64,000.

Netskope Stock Performance

The company has a debt-to-equity ratio of 4.06, a current ratio of 2.17 and a quick ratio of 2.16. The firm has a market capitalization of $6.24 billion and a PE ratio of -76.88. The company’s fifty day simple moving average is $12.73 and its 200 day simple moving average is $11.18.

Netskope (NASDAQ:NTSK) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $201.59 million during the quarter. Netskope’s quarterly revenue 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 expect that Netskope Inc. will post -0.88 EPS for the current fiscal 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.