Oppenheimer Cuts Netskope (NASDAQ:NTSK) Price Target to $23.00

Netskope (NASDAQ:NTSK) had its price objective decreased by Oppenheimer from $28.00 to $23.00 in a report published on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts have also issued reports on the company. TD Cowen reduced their price target on Netskope from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. FBN Securities assumed coverage on Netskope in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $15.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. BTIG Research reduced their price objective on shares of Netskope from $27.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $26.00 target price on shares of Netskope in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Netskope currently has an average rating of “Moderate Buy” and an average target price of $23.47.

Netskope Stock Performance

NASDAQ:NTSK opened at $10.59 on Monday. The firm has a market cap of $4.16 billion and a P/E ratio of -105.90. 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 stock’s fifty day moving average price is $14.12. Netskope has a 52-week low of $9.13 and a 52-week high of $27.99.

Netskope (NASDAQ:NTSK) last released 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. The business’s quarterly revenue was up 33.0% compared to the same quarter last year.

Insider Transactions at Netskope

In related news, CFO Matto Andrew H. Del sold 49,875 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the sale, the chief financial officer directly owned 41,493 shares in the company, valued at $712,019.88. This trade represents a 54.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjay Beri sold 31,594 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $17.58, for a total transaction of $555,422.52. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,049,721 shares of company stock valued at $18,020,279 over the last quarter.

Institutional Investors Weigh In On Netskope

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Netskope in the fourth quarter valued at approximately $87,000. Virtu Financial LLC increased its holdings in shares of Netskope by 239.4% during the 4th quarter. Virtu Financial LLC now owns 32,512 shares of the company’s stock worth $570,000 after acquiring an additional 22,932 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Netskope by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company’s stock valued at $62,383,000 after acquiring an additional 456,321 shares during the period. XTX Topco Ltd lifted its holdings in Netskope by 11.3% during the 4th quarter. XTX Topco Ltd now owns 28,956 shares of the company’s stock valued at $508,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in Netskope by 28.1% during the fourth quarter. Bamco Inc. NY now owns 2,981,743 shares of the company’s stock worth $52,300,000 after purchasing an additional 654,964 shares during the period.

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.