Netskope (NASDAQ:NTSK) Reaches New 12-Month Low – Here’s What Happened

Netskope Inc. (NASDAQ:NTSK)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $11.30 and last traded at $11.33, with a volume of 758198 shares. The stock had previously closed at $12.22.

Analyst Ratings Changes

NTSK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $26.00 price target on shares of Netskope in a report on Friday, December 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Netskope in a research note on Wednesday. Piper Sandler reaffirmed an “overweight” rating on shares of Netskope in a report on Friday, December 12th. KeyCorp dropped their price objective on shares of Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Finally, Mizuho lifted their price objective 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 assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Netskope has an average rating of “Moderate Buy” and an average target price of $26.71.

Netskope Price Performance

The stock has a market capitalization of $4.64 billion and a PE ratio of -118.10. The company has a fifty day simple moving average of $17.07. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 5.17.

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

Insider Buying and Selling at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $16.66, for a total value of $63,691.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Beri sold 31,594 shares of Netskope stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $17.58, for a total transaction of $555,422.52. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,049,721 shares of company stock worth $18,020,279 over the last three months.

Hedge Funds Weigh In On Netskope

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in Netskope in the fourth quarter worth $25,000. Quarry LP purchased a new position in shares of Netskope in the third quarter worth about $41,000. Assetmark Inc. bought a new stake in shares of Netskope in the 3rd quarter valued at about $83,000. Leonteq Securities AG purchased a new stake in Netskope during the 4th quarter valued at $64,000. Finally, RiverPark Advisors LLC purchased a new position in Netskope during the 3rd 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.