Netskope (NASDAQ:NTSK) Stock Gets Price Target Bump from Wells Fargo & Company

Netskope (NASDAQ:NTSK) had its target price increased by Wells Fargo & Company from $17.00 to $22.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 12.38% from the company’s current price.

Several other analysts also recently weighed in on NTSK. Oppenheimer boosted their target price on Netskope from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Morgan Stanley raised their price target on Netskope from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. BMO Capital Markets raised their price target on Netskope from $13.00 to $18.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. lifted their price target on Netskope from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Stephens started coverage on Netskope in a research note on Monday, September 14th. They issued an “overweight” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Netskope Stock Performance

NTSK traded down $0.46 on Thursday, reaching $19.58. The company had a trading volume of 704,070 shares, compared to its average volume of 4,986,347. The company has a quick ratio of 2.00, a current ratio of 2.01 and a debt-to-equity ratio of 4.45. Netskope has a 1 year low of $7.66 and a 1 year high of $24.98. The stock has a market capitalization of $8.00 billion and a PE ratio of -7.78. The stock has a 50-day moving average price of $16.44 and a 200-day moving average price of $12.77.

Netskope (NASDAQ:NTSK) last issued its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.23. The company had revenue of $220.54 million for the quarter. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%. Netskope has set its FY 2027 guidance at -0.150–0.150 EPS and its Q3 2027 guidance at -0.040–0.030 EPS. As a group, research analysts forecast that Netskope will post -0.82 EPS for the current fiscal year.

Insider Transactions at Netskope

In other Netskope news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of Netskope stock in a transaction on Friday, September 11th. The shares were sold at an average price of $14.90, for a total value of $158,252.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 25.52% of the company’s stock.

Institutional Investors Weigh In On Netskope

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of Netskope by 31.4% during the first quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock worth $21,628,000 after buying an additional 608,355 shares during the last quarter. Wasatch Advisors LP acquired a new position in Netskope in the 2nd quarter valued at about $25,107,000. Weiss Asset Management LP acquired a new position in Netskope in the 1st quarter valued at about $8,957,000. New York Life Insurance Co. purchased a new stake in Netskope during the 2nd quarter valued at approximately $11,325,580. Finally, Stephens Investment Management Group LLC raised its stake in Netskope by 117.5% during the 1st quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company’s stock valued at $8,301,000 after acquiring an additional 528,164 shares during the last quarter.

About Netskope

Netskope, Inc is a cloud security company that provides technology for protecting data, users, applications and networks in modern digital environments. Its platform is designed to help organizations secure access to cloud services, web applications, private applications and other internet-connected resources while supporting distributed workforces and hybrid IT infrastructures.

The company’s products include cloud access security broker (CASB) capabilities, secure web gateway services, zero trust network access, data loss prevention, cloud firewall functionality and security analytics.