KeyCorp Cuts Netskope (NASDAQ:NTSK) Price Target to $17.00

Netskope (NASDAQ:NTSK) had its price target cut by KeyCorp from $24.00 to $17.00 in a research note published on Tuesday, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Netskope in a research report on Wednesday, February 11th. Piper Sandler reissued an “overweight” rating on shares of Netskope in a research report on Friday, December 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Mizuho cut 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. Finally, Robert W. Baird began coverage on shares of Netskope in a research note on Monday, October 27th. They issued an “outperform” rating and a $27.00 price objective for the company. One analyst has 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Stock Up 1.1%

NTSK stock opened at $11.66 on Tuesday. The stock has a market capitalization of $4.59 billion and a price-to-earnings ratio of -116.60. Netskope has a twelve month low of $10.96 and a twelve month high of $27.99. 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 has a fifty day simple moving average of $15.70.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, beating 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 company’s revenue for the quarter was up 33.0% on a year-over-year basis.

Insider Buying and Selling at Netskope

In other news, CFO Matto Andrew H. Del sold 49,875 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total transaction of $855,855.00. Following the transaction, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Beri sold 31,594 shares of the stock in a transaction that occurred 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. Over the last ninety days, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Investors Weigh In On Netskope

A number of institutional investors and hedge funds have recently modified their holdings of NTSK. Farther Finance Advisors LLC purchased a new position in Netskope during the 4th quarter worth approximately $25,000. Quarry LP acquired a new stake in shares of Netskope in the third quarter worth $41,000. Triumph Capital Management raised its holdings in shares of Netskope by 380.0% during the fourth 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 last quarter. Wells Fargo & Company MN lifted its position in Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after purchasing an additional 2,617 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Netskope during the 4th quarter worth about $64,000.

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.