Netskope (NASDAQ:NTSK) Stock Price Up 9.8% – Should You Buy?

Netskope Inc. (NASDAQ:NTSK)’s stock price was up 9.8% during mid-day trading on Wednesday . The company traded as high as $10.98 and last traded at $10.91. Approximately 2,314,838 shares were traded during trading, a decline of 13% from the average daily volume of 2,651,093 shares. The stock had previously closed at $9.94.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler reissued an “overweight” rating on shares of Netskope in a report on Friday, December 12th. KeyCorp reduced their target price on Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. FBN Securities began coverage on Netskope in a report on Wednesday. They set an “outperform” rating and a $15.00 price objective on the stock. TD Cowen lowered their price target on shares of Netskope from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Mizuho lowered their price target on Netskope from $26.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. One investment 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 given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.94.

Netskope Price Performance

The stock’s fifty day moving average is $15.10. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 5.17. The firm has a market capitalization of $4.32 billion and a P/E ratio of -109.80.

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

Insider Activity

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 value of $63,691.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matto Andrew H. Del sold 77,207 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were 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 owned 41,493 shares in the company, valued at approximately $702,061.56. This represents a 65.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Investors Weigh In On Netskope

A number of hedge funds and other institutional investors have recently made changes to their positions in NTSK. ICONIQ Capital LLC purchased a new stake in Netskope during the third quarter worth $1,506,261,000. Scge Management L.P. acquired a new position in shares of Netskope in the third quarter worth about $312,104,000. Vanguard Group Inc. acquired a new position in shares of Netskope in the third quarter worth about $80,006,000. Public Sector Pension Investment Board purchased a new stake in shares of Netskope during the 4th quarter worth about $60,882,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Netskope during the 3rd quarter valued at about $72,463,000.

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.