Mizuho Cuts Netskope (NASDAQ:NTSK) Price Target to $20.00

Netskope (NASDAQ:NTSK) had its target price trimmed by Mizuho from $26.00 to $20.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating on shares of Netskope in a report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Netskope in a research report on Monday, December 29th. Robert W. Baird assumed coverage on Netskope in a research report on Monday, October 27th. They issued an “outperform” rating and a $27.00 target price for the company. Zacks Research upgraded Netskope to a “hold” rating in a report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

Netskope Stock Up 1.1%

Shares of NTSK stock opened at $11.66 on Tuesday. The stock’s fifty day simple moving average is $15.70. The company has a market cap of $4.59 billion and a P/E ratio of -116.60. 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 has a twelve month low of $10.96 and a twelve month high of $27.99.

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

Insider Transactions at Netskope

In other Netskope news, CEO Sanjay Beri sold 346,061 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $16.91, for a total transaction of $5,851,891.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Raphael Bousquet sold 3,823 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $16.66, for a total transaction of $63,691.18. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,049,721 shares of company stock valued at $18,020,279.

Institutional Investors Weigh In On Netskope

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

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.