Netskope (NASDAQ:NTSK) Hits New 52-Week Low – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $16.15 and last traded at $16.18, with a volume of 399539 shares trading hands. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NTSK shares. BMO Capital Markets initiated coverage on shares of Netskope in a research note on Monday, October 13th. They set an “outperform” rating and a $26.00 target price on the stock. Mizuho boosted their price objective on Netskope from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. KeyCorp increased their target price on Netskope from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Morgan Stanley began coverage on Netskope in a report on Monday, October 13th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, Baird R W raised Netskope to a “strong-buy” rating in a research note on Monday, October 27th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.94.

Netskope Stock Down 3.0%

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17. The company has a market capitalization of $6.38 billion and a P/E ratio of -162.30. The company’s 50 day moving average price is $19.55.

Netskope (NASDAQ:NTSK) last announced its earnings results on Thursday, December 11th. The company reported ($0.10) EPS for the quarter, beating 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 company’s revenue was up 33.0% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CEO Sanjay Beri sold 346,061 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.91, for a total value of $5,851,891.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $16.92, for a total transaction of $1,306,342.44. Following the sale, the chief financial officer directly owned 41,493 shares in the company, valued at $702,061.56. This trade represents a 65.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,039,482 shares of company stock valued at $17,849,592 in the last three months.

Institutional Investors Weigh In On Netskope

Several large investors have recently added to or reduced their stakes in NTSK. ICONIQ Capital LLC acquired a new stake in shares of Netskope during the 3rd quarter worth approximately $1,506,261,000. Scge Management L.P. bought a new position in Netskope during the third quarter worth $312,104,000. Vanguard Group Inc. acquired a new stake in Netskope in the third quarter worth $80,006,000. Massachusetts Financial Services Co. MA bought a new stake in Netskope in the third quarter valued at $72,463,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Netskope during the third quarter valued at about $61,833,000.

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.