Netskope (NASDAQ:NTSK) Trading 7.2% Higher – Here’s What Happened

Shares of Netskope Inc. (NASDAQ:NTSK) were up 7.2% during trading on Tuesday . The company traded as high as $13.56 and last traded at $13.7160. Approximately 1,091,393 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,607,002 shares. The stock had previously closed at $12.80.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NTSK shares. KeyCorp decreased their target price on shares of Netskope from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company cut their price target on shares of Netskope from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada set a $18.00 price objective on shares of Netskope in a research note on Thursday, June 4th. BTIG Research decreased their price objective on Netskope from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 4th. Finally, Piper Sandler lowered their target price on Netskope from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given 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 price target of $17.11.

Netskope Price Performance

The firm has a market capitalization of $5.73 billion and a price-to-earnings ratio of -70.82. The company’s 50 day moving average is $10.81 and its 200-day moving average is $11.69. The company has a current ratio of 2.17, a quick ratio of 2.16 and a debt-to-equity ratio of 4.06.

Netskope (NASDAQ:NTSK) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $201.59 million for the quarter. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Netskope has set its Q2 2027 guidance at -0.070–0.060 EPS and its FY 2027 guidance at -0.180–0.180 EPS. Equities research analysts anticipate that Netskope Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other Netskope news, major shareholder Iconiq Strategic Partners Viii bought 610,291 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average cost of $11.82 per share, with a total value of $7,213,639.62. Following the acquisition, the insider owned 610,291 shares of the company’s stock, valued at $7,213,639.62. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arif Janmohamed sold 1,313,827 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $9.19, for a total value of $12,074,070.13. Following the completion of the sale, the director owned 336,173 shares in the company, valued at approximately $3,089,429.87. This trade represents a 79.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,529,696 shares of company stock valued at $33,002,807 over the last 90 days. 25.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Netskope

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new stake in shares of Netskope during the 4th quarter worth about $25,000. Quarry LP acquired a new position in shares of Netskope in the third quarter valued at approximately $41,000. Triumph Capital Management increased its stake in shares of Netskope by 380.0% during the fourth quarter. Triumph Capital Management now owns 2,400 shares of the company’s stock worth $42,000 after purchasing an additional 1,900 shares during the period. Wells Fargo & Company MN increased its stake in shares of Netskope by 261.7% during the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock worth $63,000 after purchasing an additional 2,617 shares during the period. Finally, Leonteq Securities AG acquired a new stake in Netskope during the 4th quarter worth approximately $64,000.

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.