Netskope (NASDAQ:NTSK) Trading Up 6.8% – Still a Buy?

Netskope Inc. (NASDAQ:NTSK)’s stock 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 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 Analyst Weigh In

Several analysts recently issued reports on the stock. KeyCorp reduced their price target on shares of Netskope from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Netskope in a research report on Wednesday. Zacks Research upgraded shares of Netskope to a “hold” rating in a research note on Monday, October 20th. Robert W. Baird began coverage on shares of Netskope in a report on Monday, October 27th. They set an “outperform” rating and a $27.00 price target for the company. Finally, Mizuho upped their price objective on 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 issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

Netskope Stock Performance

The stock has a fifty day moving average price of $16.77. 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 cap of $4.61 billion and a PE ratio of -117.30.

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 business had revenue of $184.17 million for the quarter, compared to the consensus estimate of $175.81 million. The business’s revenue for the quarter was up 33.0% on a year-over-year basis.

Insider Activity

In other news, CFO Matto Andrew H. Del sold 49,875 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.16, for a total value of $855,855.00. Following the completion of the sale, the chief financial officer owned 41,493 shares in the company, valued at $712,019.88. This represents a 54.59% decrease in their ownership of the stock. 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 the business’s stock in a transaction dated 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 in the last three months.

Institutional Trading of Netskope

Institutional investors and hedge funds have recently modified their holdings of the business. New York Life Insurance Co. bought a new position in shares of Netskope during the 3rd quarter valued at approximately $31,236,000. Federated Hermes Inc. purchased a new stake in Netskope in the third quarter worth $18,184,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Netskope in the third quarter valued at $72,463,000. Principal Financial Group Inc. purchased a new position in shares of Netskope during the 3rd quarter valued at $27,239,000. Finally, Chicago Capital LLC bought a new position in shares of Netskope during the 3rd quarter worth $2,056,000.

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.