BTIG Research Cuts Netskope (NASDAQ:NTSK) Price Target to $22.00

Netskope (NASDAQ:NTSK) had its price target lowered by BTIG Research from $27.00 to $22.00 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

NTSK has been the topic of a number of other reports. FBN Securities assumed coverage on shares of Netskope in a report on Wednesday, February 25th. They set an “outperform” rating and a $15.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $26.00 price objective on shares of Netskope in a research report on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Netskope in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Netskope in a report on Monday, December 29th. Finally, KeyCorp dropped their price objective on Netskope from $24.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.47.

Netskope Stock Performance

NTSK opened at $10.59 on Monday. The stock’s 50-day moving average is $14.12. Netskope has a 52-week low of $9.13 and a 52-week high of $27.99. 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 company has a market capitalization of $4.16 billion and a price-to-earnings ratio of -105.90.

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

Insider Activity at Netskope

In other news, CRO Raphael Bousquet sold 3,823 shares of the company’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 value of $63,691.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $5,851,891.51. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,049,721 shares of company stock worth $18,020,279.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Netskope during the 4th quarter worth $87,000. Virtu Financial LLC increased its position in Netskope by 239.4% during the fourth quarter. Virtu Financial LLC now owns 32,512 shares of the company’s stock worth $570,000 after acquiring an additional 22,932 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Netskope by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,556,583 shares of the company’s stock worth $62,383,000 after acquiring an additional 456,321 shares during the period. XTX Topco Ltd raised its stake in Netskope by 11.3% in the 4th quarter. XTX Topco Ltd now owns 28,956 shares of the company’s stock worth $508,000 after purchasing an additional 2,950 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in Netskope by 28.1% in the 4th quarter. Bamco Inc. NY now owns 2,981,743 shares of the company’s stock valued at $52,300,000 after purchasing an additional 654,964 shares during the period.

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.