TD Cowen Has Lowered Expectations for Netskope (NASDAQ:NTSK) Stock Price

Netskope (NASDAQ:NTSK) had its price target decreased by equities research analysts at TD Cowen from $30.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 157.47% from the stock’s previous close.

Other analysts have also issued reports about the company. KeyCorp decreased their target price on Netskope from $24.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Robert W. Baird started coverage on shares of Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 price target for the company. Finally, Mizuho lowered their price objective on shares of Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.56.

Netskope Stock Up 4.9%

NTSK traded up $0.45 during trading on Tuesday, hitting $9.71. The company’s stock had a trading volume of 1,291,674 shares, compared to its average volume of 2,623,196. The stock has a market capitalization of $3.82 billion and a price-to-earnings ratio of -97.10. Netskope has a twelve month low of $9.13 and a twelve month high of $27.99. The business’s fifty day simple moving average is $15.30. 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 released 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 company had revenue of $184.17 million during the quarter, compared to the consensus estimate of $175.81 million. The company’s quarterly revenue was up 33.0% on a year-over-year basis.

Insiders Place Their Bets

In other news, CRO Raphael Bousquet sold 3,823 shares of the company’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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Beri sold 31,594 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total value of $555,422.52. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new position in shares of Netskope in the fourth quarter worth $25,000. Quarry LP purchased a new stake in Netskope during the 3rd quarter worth about $41,000. Triumph Capital Management boosted its stake 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 purchasing an additional 1,900 shares during the period. Wells Fargo & Company MN grew its holdings in Netskope by 261.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after buying an additional 2,617 shares in the last quarter. Finally, Assetmark Inc. bought a new stake in shares of Netskope during the third quarter valued at about $83,000.

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.