Netskope (NASDAQ:NTSK) Upgraded at Stephens

Stephens upgraded shares of Netskope (NASDAQ:NTSK) to a strong-buy rating in a report issued on Monday,Zacks reports.

Other equities analysts have also issued research reports about the company. Piper Sandler boosted their target price on Netskope from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. BTIG Research raised their price target on shares of Netskope from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Netskope from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. KeyCorp increased their price objective on shares of Netskope from $16.00 to $17.50 and gave the company an “overweight” rating in a research report on Friday, August 21st. Finally, Morgan Stanley raised their target price on shares of Netskope from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.12.

Netskope Stock Performance

Shares of NTSK stock opened at $17.29 on Monday. Netskope has a one year low of $7.66 and a one year high of $27.99. The company’s 50-day moving average is $14.07 and its 200 day moving average is $11.57. The company has a market capitalization of $7.06 billion and a price-to-earnings ratio of -6.78. The company has a debt-to-equity ratio of 4.45, a quick ratio of 2.00 and a current ratio of 2.01.

Netskope (NASDAQ:NTSK) last issued its earnings results 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 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. Sell-side analysts expect that Netskope will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William J.G. Griffith bought 64,771 shares of Netskope stock in a transaction that occurred on Monday, July 13th. The stock was bought at an average cost of $12.42 per share, with a total value of $804,455.82. Following the acquisition, the director owned 916,690 shares of the company’s stock, valued at $11,385,289.80. The trade was a 7.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Viii bought 64,771 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were purchased at an average price of $12.42 per share, for a total transaction of $804,455.82. Following the purchase, the insider owned 916,690 shares in the company, valued at $11,385,289.80. This trade represents a 7.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 1,833,380 shares of company stock worth $21,960,909 and sold 240,317 shares worth $2,961,806. Company insiders own 25.52% of the company’s stock.

Institutional Trading of Netskope

Institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors LP purchased a new stake in Netskope in the 2nd quarter worth $25,107,000. Principal Financial Group Inc. grew its position 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 purchasing an additional 608,355 shares in the last quarter. New York Life Insurance Co. bought a new stake in Netskope during the 2nd quarter valued at approximately $11,325,580. Wellington Management Group LLP purchased a new position in Netskope in the 2nd quarter worth approximately $2,027,000. Finally, Bank of New York Mellon Corp boosted its stake in Netskope by 1,381.8% in the 1st quarter. Bank of New York Mellon Corp now owns 475,918 shares of the company’s stock worth $4,041,000 after purchasing an additional 443,800 shares during the period.

Netskope Company Profile

Netskope, Inc is a cybersecurity company that provides a cloud-native platform designed to help organizations secure data, users, devices, applications and networks. Its offerings address security needs arising from cloud computing, remote work and the use of software-as-a-service applications.

The company’s platform includes security service edge (SSE) and secure access service edge (SASE) capabilities, such as cloud access security broker (CASB) services, secure web gateways, zero-trust network access, data loss prevention, cloud firewall functionality and security analytics.