Netskope Inc. (NASDAQ:NTSK) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Netskope Inc. (NASDAQ:NTSK) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.7059.

Several brokerages recently issued reports on NTSK. Wells Fargo & Company initiated coverage on Netskope in a research report on Monday, October 13th. They set an “overweight” rating and a $28.00 target price for the company. Robert W. Baird assumed coverage on Netskope in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a research note on Monday, December 29th. Zacks Research upgraded Netskope to a “hold” rating in a report on Monday, October 20th. Finally, William Blair assumed coverage on shares of Netskope in a report on Monday, October 13th. They set an “outperform” rating for the company.

Insider Buying and Selling at Netskope

In other Netskope news, CEO Sanjay Beri sold 31,594 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total transaction of $555,422.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matto Andrew H. Del sold 49,875 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total value of $855,855.00. Following the completion of the transaction, the chief financial officer directly owned 41,493 shares in the company, 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. Over the last quarter, insiders have sold 1,049,721 shares of company stock valued at $18,020,279.

Hedge Funds Weigh In On Netskope

A number of institutional investors and hedge funds have recently modified their holdings of NTSK. ICONIQ Capital LLC bought a new stake in shares of Netskope in the 3rd quarter valued at $1,506,261,000. Scge Management L.P. acquired a new stake in Netskope in the third quarter worth $312,104,000. Massachusetts Financial Services Co. MA increased its stake in Netskope by 11.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,561,508 shares of the company’s stock valued at $62,469,000 after purchasing an additional 373,529 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Netskope during the third quarter valued at about $80,006,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Netskope during the 3rd quarter worth about $61,833,000.

Netskope Price Performance

Netskope stock opened at $15.29 on Wednesday. The firm has a 50 day moving average price of $18.13. The firm has a market capitalization of $6.01 billion and a P/E ratio of -152.90. Netskope has a 1 year low of $14.23 and a 1 year high of $27.99. 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 posted its earnings results on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The business had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. Netskope’s revenue for the quarter was up 33.0% on a year-over-year basis.

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.