Netskope (NASDAQ:NTSK) Shares Up 6.8% – What’s Next?

Netskope Inc. (NASDAQ:NTSK)’s share price rose 6.8% on Friday . The company traded as high as $12.39 and last traded at $12.27. Approximately 262,847 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,624,779 shares. The stock had previously closed at $11.49.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. KeyCorp cut their price objective on Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a research note on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a research report on Wednesday. Finally, Mizuho upped their target price on shares of Netskope from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Netskope Trading Up 2.1%

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 market cap of $4.61 billion and a P/E ratio of -117.30. The business has a 50 day moving average of $16.77.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.15. The firm had revenue of $184.17 million during the quarter, compared to analysts’ expectations of $175.81 million. Netskope’s revenue was up 33.0% compared to the same quarter last year.

Insider Buying and Selling

In other news, CRO Raphael Bousquet sold 3,823 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $16.66, for a total transaction of $63,691.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of Netskope stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.92, for a total value of $1,306,342.44. Following the completion of the sale, the chief financial officer directly owned 41,493 shares in the company, valued at approximately $702,061.56. The trade was a 65.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Investors Weigh In On Netskope

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

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.