Netskope (NASDAQ:NTSK) Sets New 52-Week High After Analyst Upgrade

Netskope Inc. (NASDAQ:NTSK) reached a new 52-week high during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $25.00 and last traded at $25.1960, with a volume of 779,993 shares changing hands. The stock had previously closed at $24.28.

Several other research analysts also recently commented on NTSK. Mizuho set a $16.00 target price on Netskope in a research note on Wednesday, August 19th. Robert W. Baird upped their price target on Netskope from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Oppenheimer increased their price target on shares of Netskope from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Royal Bank Of Canada increased their price target on shares of Netskope from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Finally, KeyCorp raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Netskope has a consensus rating of “Moderate Buy” and an average price target of $18.75.

Insider Activity

In related news, major shareholder Lightspeed Venture Partners Se sold 10,621 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $14.90, for a total transaction of $158,252.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 business. Wasatch Advisors LP bought a new position in shares of Netskope in the second quarter worth approximately $25,107,000. Principal Financial Group Inc. lifted its position in Netskope by 31.4% during the first quarter. Principal Financial Group Inc. now owns 2,547,468 shares of the company’s stock valued at $21,628,000 after purchasing an additional 608,355 shares during the last quarter. New York Life Insurance Co. bought a new stake in Netskope during the second quarter valued at approximately $11,325,580. Weiss Asset Management LP bought a new stake in Netskope during the first quarter valued at approximately $8,957,000. Finally, Stephens Investment Management Group LLC grew its stake in Netskope by 117.5% in the 1st quarter. Stephens Investment Management Group LLC now owns 977,786 shares of the company’s stock worth $8,301,000 after buying an additional 528,164 shares in the last quarter.

Netskope Stock Performance

The firm has a market cap of $10.68 billion and a PE ratio of -10.25. The stock’s 50 day simple moving average is $17.70 and its 200 day simple moving average is $13.10.

Netskope (NASDAQ:NTSK) last posted its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.23. The company had revenue of $220.54 million for the quarter. 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, analysts anticipate that Netskope Inc. will post -0.82 earnings per share for the current year.

Netskope Company Profile

Netskope, Inc is a cybersecurity company that provides cloud-based security and networking solutions for organizations operating in cloud, web, data center and remote-work environments. Its platform is designed to help enterprises protect data, applications and users while providing visibility and control across distributed information-technology environments.

The company’s Netskope One platform brings together security service edge (SSE) and secure access service edge (SASE) capabilities.