Netskope (NASDAQ:NTSK) Stock Bumped Down to Equal Weight by Morgan Stanley

Netskope (NASDAQ:NTSK) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Friday, FinViz reports. They presently have a $24.00 price objective on the stock, up from their prior price objective of $16.00. Morgan Stanley‘s target price points to a potential upside of 7.62% from the company’s current price.

Several other brokerages have also recently issued reports on NTSK. Cantor Fitzgerald started coverage on shares of Netskope in a research note on Wednesday, November 4th. They set an “overweight” rating and a $28.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Netskope in a research note on Friday, October 2nd. Piper Sandler boosted their target price on Netskope from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Stephens assumed coverage on Netskope in a research report on Monday, September 14th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, Royal Bank Of Canada upped their price target on Netskope from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Netskope presently has an average rating of “Moderate Buy” and an average price target of $20.39.

Netskope Stock Performance

Shares of NTSK opened at $22.30 on Friday. Netskope has a 52-week low of $7.66 and a 52-week high of $26.71. The company has a quick ratio of 2.00, a current ratio of 2.01 and a debt-to-equity ratio of 4.45. The firm’s fifty day moving average is $19.73 and its two-hundred day moving average is $13.54.

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

Insider Buying and Selling at Netskope

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

Hedge Funds Weigh In On Netskope

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wasatch Advisors LP purchased a new stake in shares of Netskope in the 2nd quarter valued at approximately $25,107,000. Principal Financial Group Inc. raised its position in shares of Netskope by 31.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after buying an additional 608,355 shares during the period. New York Life Insurance Co. purchased a new stake in shares of Netskope during the 2nd quarter valued at approximately $11,325,580. Wellington Management Group LLP acquired a new position in Netskope in the second quarter valued at approximately $2,027,000. Finally, Bank of New York Mellon Corp lifted its holdings in Netskope by 1,381.8% in the first quarter. Bank of New York Mellon Corp now owns 475,918 shares of the company’s stock valued at $4,041,000 after acquiring an additional 443,800 shares during the last quarter.

About Netskope

Netskope, Inc. provides cybersecurity and networking services that help organizations protect users, data and applications across cloud, web and private-network environments. Its offerings are designed to support distributed workforces and the use of cloud services while applying consistent security policies. The company’s Netskope One platform brings together security and networking capabilities, including secure web access, cloud application security, data loss prevention, threat protection and zero-trust network access.