Netskope (NASDAQ:NTSK) Trading Up 7.7% – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK)’s stock price traded up 7.7% during mid-day trading on Monday . The company traded as high as $10.84 and last traded at $11.08. 805,800 shares changed hands during trading, a decline of 83% from the average session volume of 4,626,183 shares. The stock had previously closed at $10.29.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NTSK. BMO Capital Markets reduced their price target on Netskope from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. Mizuho decreased their target price on shares of Netskope from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. TD Cowen cut their price target on shares of Netskope from $25.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. Royal Bank Of Canada set a $18.00 price target on shares of Netskope in a research report on Thursday, June 4th. Finally, Rosenblatt Securities began coverage on Netskope in a research report on Tuesday, April 14th. They issued a “buy” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

Netskope Stock Up 7.6%

The company has a quick ratio of 2.16, a current ratio of 2.17 and a debt-to-equity ratio of 4.06. The company has a market cap of $4.47 billion and a PE ratio of -55.57. The company’s fifty day moving average is $10.38 and its 200-day moving average is $12.34.

Netskope (NASDAQ:NTSK) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $201.59 million for the quarter. The company’s revenue was up 27.8% compared to the same quarter last year. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. On average, analysts predict that Netskope Inc. will post -0.88 EPS for the current year.

Insider Activity at Netskope

In other Netskope news, Director Arif Janmohamed sold 1,313,827 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the completion of the sale, the director directly owned 336,173 shares of the company’s stock, valued at approximately $3,089,429.87. This represents a 79.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lightspeed Venture Partners Se sold 1,313,827 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $9.19, for a total transaction of $12,074,070.13. Following the completion of the transaction, the insider owned 336,173 shares in the company, valued at $3,089,429.87. The trade was a 79.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,300,000 shares of company stock worth $30,199,254 in the last quarter. Company insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Netskope

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in Netskope during the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Netskope during the 3rd quarter valued at approximately $41,000. Triumph Capital Management increased its holdings in Netskope by 380.0% in the 4th quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after acquiring an additional 1,900 shares in the last quarter. Wells Fargo & Company MN raised its stake in Netskope by 261.7% during the 4th quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after acquiring an additional 2,617 shares during the period. Finally, Leonteq Securities AG purchased a new position in Netskope during the fourth quarter valued at approximately $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.