Netskope (NASDAQ:NTSK) Price Target Raised to $22.00

Netskope (NASDAQ:NTSK) had its target price hoisted by Wells Fargo & Company from $17.00 to $22.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently weighed in on NTSK. BMO Capital Markets raised their target price on shares of Netskope from $13.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. KeyCorp increased their target price on Netskope from $16.00 to $17.50 and gave the company an “overweight” rating in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Netskope in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Netskope in a research report on Friday, October 2nd. Finally, Morgan Stanley boosted their price target on shares of Netskope from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.75.

Netskope Trading Down 7.1%

NASDAQ NTSK opened at $19.00 on Thursday. The business has a fifty day simple moving average of $16.66 and a 200 day simple moving average of $12.90. The firm has a market capitalization of $7.76 billion and a P/E ratio of -7.45. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 4.45. Netskope has a 12 month low of $7.66 and a 12 month high of $24.98.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.23. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%. The business had revenue of $220.54 million for the quarter. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. On average, analysts predict that Netskope will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of Netskope stock in a transaction on Friday, September 11th. The shares were sold at an average price of $14.90, for a total transaction of $158,252.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 25.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new position in Netskope in the 2nd quarter worth approximately $25,107,000. Principal Financial Group Inc. raised its position in shares of Netskope by 31.4% during the first quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after buying an additional 608,355 shares during the last quarter. New York Life Insurance Co. purchased a new position in shares of Netskope in the second quarter worth $11,325,580. Weiss Asset Management LP purchased a new position in shares of Netskope in the first quarter worth $8,957,000. Finally, Stephens Investment Management Group LLC boosted its position in shares of Netskope by 117.5% during the first quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company’s stock worth $8,301,000 after acquiring an additional 528,164 shares during the last quarter.

About Netskope

Netskope, Inc is a cloud security company that provides technology for protecting data, users, applications and networks in modern digital environments. Its platform is designed to help organizations secure access to cloud services, web applications, private applications and other internet-connected resources while supporting distributed workforces and hybrid IT infrastructures.

The company’s products include cloud access security broker (CASB) capabilities, secure web gateway services, zero trust network access, data loss prevention, cloud firewall functionality and security analytics.