Netskope (NASDAQ:NTSK) Price Target Raised to $23.00

Netskope (NASDAQ:NTSK) had its target price raised by Royal Bank Of Canada from $20.00 to $23.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also weighed in on NTSK. TD Cowen reissued a “buy” rating and set a $19.00 price objective on shares of Netskope in a report on Monday, August 17th. Mizuho set a $16.00 target price on Netskope in a research note on Wednesday, August 19th. Deutsche Bank set a $17.00 target price on Netskope in a research report on Monday, August 17th. Stephens started coverage on shares of Netskope in a research note on Monday, September 14th. They set an “overweight” rating and a $21.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Netskope from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.82.

Netskope Stock Performance

NASDAQ:NTSK opened at $22.37 on Monday. The firm’s 50-day moving average is $19.55 and its 200-day moving average is $13.50. Netskope has a 52-week low of $7.66 and a 52-week high of $26.71. 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 released its earnings results 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. Netskope had a negative net margin of 91.84% and a negative return on equity of 83.84%. The business had revenue of $220.54 million during 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 forecast that Netskope will post -0.82 earnings per share for the current year.

Insider Activity

In other 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 25.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings 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 period. Wasatch Advisors LP acquired a new stake in Netskope in the second quarter worth $25,107,000. Stephens Investment Management Group LLC boosted its position in shares of Netskope by 1.6% during the third quarter. Stephens Investment Management Group LLC now owns 1,117,368 shares of the company’s stock worth $19,487,000 after purchasing an additional 17,214 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Netskope during the first quarter worth $8,957,000. Finally, New York Life Insurance Co. acquired a new position in shares of Netskope in the 2nd quarter valued at $11,325,580.

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.