Netskope (NASDAQ:NTSK) Stock Price Up 9.8% – Time to Buy?

Netskope Inc. (NASDAQ:NTSK) shot up 9.8% on Wednesday . The stock traded as high as $10.98 and last traded at $10.91. 2,314,838 shares changed hands during trading, a decline of 13% from the average session volume of 2,651,093 shares. The stock had previously closed at $9.94.

Analyst Ratings Changes

A number of analysts have commented on NTSK shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. KeyCorp reduced their price objective on shares of Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Finally, Mizuho lowered their target price on Netskope from $26.00 to $20.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.94.

Netskope Trading Down 6.3%

The firm has a 50-day simple moving average of $14.63. The firm has a market cap of $4.25 billion and a price-to-earnings ratio of -108.00. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17.

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 company had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. The firm’s revenue was up 33.0% compared to the same quarter last year.

Insiders Place Their Bets

In other news, CRO Raphael Bousquet sold 3,823 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.66, for a total transaction of $63,691.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Beri sold 346,061 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total value of $5,851,891.51. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Trading of Netskope

Several institutional investors and hedge funds have recently modified their holdings of the stock. Chicago Capital LLC purchased a new position in Netskope during the third quarter worth about $2,056,000. Massachusetts Financial Services Co. MA bought a new stake in Netskope in the 3rd quarter valued at about $72,463,000. Federated Hermes Inc. purchased a new stake in shares of Netskope during the 3rd quarter valued at approximately $18,184,000. New York State Common Retirement Fund bought a new position in shares of Netskope in the third quarter worth $943,000. Finally, Principal Financial Group Inc. purchased a new position in Netskope during the 3rd quarter valued at about $27,239,000.

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.