Netskope Inc. (NASDAQ:NTSK – Get Free Report)’s stock price shot up 5.1% during trading on Thursday . The company traded as high as $15.13 and last traded at $15.1910. 285,014 shares traded hands during trading, a decline of 94% from the average session volume of 4,677,741 shares. The stock had previously closed at $14.46.
Analyst Upgrades and Downgrades
NTSK has been the topic of a number of analyst reports. KeyCorp upped their target price on shares of Netskope from $16.00 to $17.50 and gave the company an “overweight” rating in a research note on Friday, August 21st. Robert W. Baird upped their price objective on Netskope from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Oppenheimer raised their target price on Netskope from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Rosenblatt Securities boosted their price target on Netskope from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Netskope in a research report on Wednesday, July 8th. Sixteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.03.
Check Out Our Latest Report on Netskope
Netskope Trading Down 2.6%
Netskope (NASDAQ:NTSK – Get Free Report) last announced its earnings results on Wednesday, September 2nd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.23. Netskope had a negative return on equity of 83.84% and a negative net margin of 91.84%.The company 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, equities analysts forecast that Netskope Inc. will post -0.82 EPS for the current year.
Insider Activity at Netskope
In related news, Director William J.G. Griffith purchased 64,771 shares of the firm’s stock in a transaction dated Monday, July 13th. The shares were acquired at an average cost of $12.42 per share, with a total value of $804,455.82. Following the completion of the purchase, the director directly owned 916,690 shares of the company’s stock, valued at $11,385,289.80. This trade represents a 7.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Viii purchased 64,771 shares of the 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 insider owned 916,690 shares of the company’s stock, valued at $11,385,289.80. This represents a 7.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 1,833,380 shares of company stock worth $21,960,909 and have sold 902,042 shares worth $8,854,667. 25.52% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Netskope in the 3rd quarter valued at $41,000. Triumph Capital Management lifted 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 valued at $42,000 after acquiring an additional 1,900 shares during the period. Operose Advisors LLC bought a new position in Netskope in the second quarter valued at about $56,000. Wells Fargo & Company MN boosted its holdings in Netskope by 261.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,617 shares of the company’s stock valued at $63,000 after acquiring an additional 2,617 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Netskope in the fourth quarter worth about $64,000.
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.
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