Netskope (NASDAQ:NTSK) Reaches New 1-Year Low – Should You Sell?

Netskope Inc. (NASDAQ:NTSK) shares reached a new 52-week low on Wednesday . The stock traded as low as $11.30 and last traded at $11.33, with a volume of 758198 shares trading hands. The stock had previously closed at $12.22.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NTSK shares. KeyCorp decreased their price target on shares of Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Mizuho increased their price objective on Netskope from $25.00 to $26.00 and gave the company an “outperform” rating 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. Zacks Research upgraded Netskope to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.71.

Netskope Trading Down 3.4%

The company has a debt-to-equity ratio of 5.17, a quick ratio of 2.32 and a current ratio of 2.32. The business’s 50-day moving average is $17.07. The stock has a market capitalization of $4.64 billion and a price-to-earnings ratio of -118.10.

Netskope (NASDAQ:NTSK) last announced 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 firm had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. Netskope’s revenue was up 33.0% compared to the same quarter last year.

Insider Activity at Netskope

In other Netskope news, CFO Matto Andrew H. Del sold 77,207 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the sale, the chief financial officer directly owned 41,493 shares in the company, valued at approximately $702,061.56. This trade represents a 65.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Beri sold 346,061 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $16.91, for a total transaction of $5,851,891.51. The SEC filing for this sale provides additional information. Insiders have sold 1,049,721 shares of company stock worth $18,020,279 in the last quarter.

Institutional Investors Weigh In On Netskope

Several hedge funds and other institutional investors have recently modified their holdings of NTSK. Farther Finance Advisors LLC acquired a new stake in Netskope in the 4th quarter valued at $25,000. Quarry LP acquired a new position in shares of Netskope during the third quarter valued at about $41,000. Leonteq Securities AG bought a new stake in shares of Netskope during the fourth quarter worth about $64,000. Dara Capital US Inc. acquired a new stake in shares of Netskope in the 4th quarter worth about $72,000. Finally, Assetmark Inc. bought a new position in Netskope in the 3rd quarter valued at about $83,000.

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.