Netskope (NASDAQ:NTSK) Sets New 1-Year Low – Time to Sell?

Shares of Netskope Inc. (NASDAQ:NTSK) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $14.01 and last traded at $14.06, with a volume of 1026025 shares changing hands. The stock had previously closed at $14.85.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Netskope in a research report on Monday, October 13th. They issued an “overweight” rating and a $27.00 price target for the company. Piper Sandler restated an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $26.00 target price on shares of Netskope in a report on Friday, December 12th. Robert W. Baird started coverage on shares of Netskope in a report on Monday, October 27th. They issued an “outperform” rating and a $27.00 price target on the stock. Finally, Citizens Jmp started coverage on shares of Netskope in a research note on Monday, October 13th. They set a “mkt outperform” rating and a $27.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.71.

Netskope Stock Performance

The firm has a market cap of $5.16 billion and a PE ratio of -131.10. 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 firm’s 50-day moving average price is $17.55.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share for the quarter, topping 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 business’s revenue for the quarter was up 33.0% compared to the same quarter last year.

Insider Transactions at Netskope

In other Netskope news, CEO Sanjay Beri sold 31,594 shares of Netskope stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total transaction of $555,422.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Raphael Bousquet sold 3,823 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total value of $63,691.18. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Trading of Netskope

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new position in shares of Netskope during the fourth quarter worth approximately $25,000. Quarry LP bought a new position in shares of Netskope during the 3rd quarter valued at $41,000. Dara Capital US Inc. purchased a new position in Netskope in the 4th quarter worth $72,000. Assetmark Inc. bought a new stake in Netskope in the third quarter worth $83,000. Finally, RiverPark Advisors LLC purchased a new stake in Netskope during the third quarter valued at about $87,000.

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.